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Credit Card Payoff Calculator

See exactly how long your balance takes to clear — and how much paying more than the minimum saves.

Your card

APR is your card's yearly interest rate (it's on your statement). The calculator also works out the "minimum only" path — usually about 1% of the balance plus interest — so you can see the difference.

Paying your amount

0
months to pay off
💸 Total interest paid—
🧾 Total you'll pay—
🗓️ Debt-free date—

Your payment vs. minimum only

The green line is your plan; the amber dashed line is paying only the minimum. The gap between them is the "minimum-payment trap" — interest keeps the balance alive for years.

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How credit card payoff works

Each month your card charges interest on the balance (APR ÷ 12), then your payment is applied — first to that interest, and only the rest reduces what you owe. That's why a small payment barely dents the balance: most of it is eaten by interest. Paying more means more goes to principal, so the balance falls faster and you pay less total interest.

The minimum payment trap

Minimum payments are designed to be tiny — usually around 1% of the balance plus that month's interest. On a typical card that can stretch a modest balance into 15–20+ years and more than double what you repay. This calculator shows both paths side by side so the difference is obvious.

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Why won't my balance go down?

If your payment is less than the monthly interest, the balance grows instead of shrinking. The calculator warns you when that happens — you must pay more than the interest each month.

Is this before or after new spending?

It assumes you stop adding new charges. New purchases reset the math, so pause the card while you clear it.