Credit Card Payoff Time Calculator

Use our Credit Card Payoff Time Calculator to see how long it will take to clear your card with a fixed monthly payment, the month you’ll be debt-free, and how much interest you’ll pay along the way.

Each month, interest is added to the balance at your APR ÷ 12, and your payment is taken off, until nothing is left — so the part of your payment above the interest is what actually shrinks the debt.

Switch to “Time and interest saved” to add a fixed extra amount each month, a one-time payment such as a bonus or tax refund, or both, and compare the payoff time and interest with your regular plan.

The estimate assumes no new purchases, a steady APR, and one payment a month; your card issuer’s payoff quote is the figure that counts. To see what paying only the minimum would cost instead, use our Credit Card Minimum Payment Calculator; to plan several cards or loans at once, our Debt Payoff Calculator.