Credit Card Payoff Calculator
See how long it takes to pay off your credit card and how much interest it costs. Enter the balance, APR, and your monthly payment.
At $250.00/month it takes 26 payments. Paying more each month cuts both the time and the interest significantly.
How to use this calculator
Enter your card balance, the APR, and the monthly payment you'll make. The calculator shows the payoff time, the total interest, and the total you'll pay.
How credit card interest works
Credit cards charge interest monthly on your outstanding balance at a high APR. Your payment covers that interest first, and only the remainder reduces the principal. Because the rate is steep, paying well above the minimum is the key to getting out of debt and avoiding large interest charges.
Worked example
A $5,000 balance at 24% APR with a $250 payment takes about 26 months and roughly $1,400 in interest. Raising the payment to $400 cuts it to about 15 months and saves several hundred dollars.
Estimates only. New purchases, fees, and variable rates will change your actual payoff.
Frequently asked questions
How long to pay off a credit card?
Enter your balance, the card's APR, and your monthly payment. The calculator shows the months to payoff and the total interest. Credit cards carry high APRs, so paying more than the minimum makes a big difference.
Why is paying only the minimum so expensive?
Minimum payments are often just over the monthly interest, so most of your payment barely touches the principal. That can stretch a balance over many years and multiply the total interest you pay.
What APR do credit cards charge?
Credit card APRs are typically high — often 18% to 29% or more. Because interest compounds monthly on the balance, reducing the balance quickly is the most effective way to save.
Should I consider a balance transfer?
A 0% intro-APR balance transfer can pause interest for a period, letting more of your payment hit principal. Watch for transfer fees and the rate after the intro period ends.