Credit Card Payoff Calculator
See how many months it takes to pay off your credit card, the total interest, and the payment needed to be debt-free by a target date.
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Debt-free by a target date
How long to pay off a credit card?
Credit cards charge interest monthly on the remaining balance, so the same balance costs far more if you only pay a little each month. The payoff time depends on three things: the balance, the APR and your monthly payment. If the payment barely covers the interest, the balance hardly falls. Example for a $5,000 balance at 22% APR:
| Monthly payment | Time to pay off | Total interest |
|---|---|---|
| $150 | 52 months | $2,798 |
| $200 | 34 months | $1,750 |
| $300 | 20 months | $1,021 |
| $500 | 11 months | $574 |
| $1000 | 5 months | $292 |
Also try the debt payoff calculator, the loan calculator and the APR calculator. Assumes a fixed APR and no new purchases.
How to use it
- Enter the balance, APR and your monthly payment.
- Read payoff time, total interest and payoff date.
- Use the target field to find the payment for a chosen number of months.
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Frequently asked questions
How long will it take to pay off my credit card?
Enter your balance, APR and monthly payment. For a $5,000 balance at 22% APR, paying $200 a month takes about 34 months.
How much should I pay each month to clear a card in 12 or 24 months?
Use the target-date field: it calculates the fixed monthly payment needed to reach a zero balance in the number of months you choose.
Why doesn't my balance go down?
If your payment is less than or close to the monthly interest (balance × APR ÷ 12), almost nothing goes toward principal. The calculator warns you when this happens.
Does this include new purchases or fees?
No. It assumes a fixed APR, no new charges and no fees, so use it as an estimate.
What is the fastest way to pay off card debt?
Pay more than the minimum, target the highest-APR card first (avalanche method) or the smallest balance first (snowball), and avoid adding new charges.