Credit Card Payoff Calculator
Estimate payoff time, total interest, and total cost for a card balance and fixed monthly payment.
Credit cards usually charge compound interest monthly: each billing cycle, interest is applied to your remaining balance, then your payment reduces what you owe. This calculator assumes a fixed APR and the same payment every month until the balance reaches zero — a good baseline when you are not adding new charges.
If your payment is only enough to cover interest (or less), the balance does not go down. You need to pay more than the interest charged for the principal to shrink. A higher payment shortens payoff time dramatically and cuts total interest.
Real statements may show minimum payments that change over time, promotional rates, fees, and new purchases. Use this tool for estimates and compare scenarios by adjusting balance, APR, and monthly payment — or share a link with your exact inputs.