Credit card payoff calculator
A credit card payoff calculator shows how long it takes to clear your balance and how much interest you’ll pay. Enter your balance, APR and a fixed monthly payment to see your debt-free date — and how much you save versus paying only the minimum, which can stretch a balance over a decade.
Time to pay off
4 yr 8 mo
Vs. paying only the minimum
Minimum-only takes 20 yr 10 mo and costs $10,314 in interest. Your fixed payment saves about $6,515.
How this estimate is calculated
We compute your payoff two ways. For a fixed payment, we apply the standard amortization formula at your card’s monthly periodic rate (APR ÷ 12). For the minimum-payment path, we simulate the common issuer rule — 1% of the balance plus that month’s interest, with a $25 floor — recalculating as the balance falls. The gap between the two is the interest a fixed payment saves you.
See our full methodology for assumptions, limits and the 2026 data used.
Sources
- Federal Reserve G.19 (Consumer Credit) (as of 2026-02-28)
- Written by
- Colson — Founder & consumer-finance researcher, ColsonSuperApps LLC
- Verified
- Every figure checked against its cited primary source
- Last updated
- June 14, 2026
- Standards
- Editorial policy
These results are educational estimates based on the figures you enter and standard financial math, not financial advice or an offer of credit. Your actual rate, payment and terms depend on your credit, lender and other factors. Verify any number with the lender before you act.
Frequently asked questions
Why does paying the minimum cost so much?
The minimum is set just high enough to cover interest plus about 1% of principal, so the balance falls slowly while interest keeps compounding. On a typical card a minimum-only payoff can take well over a decade and cost more in interest than the original balance.
What’s a good monthly payment?
Any fixed amount above the minimum helps, but aim to clear the balance within 12–24 months if you can. The calculator shows the payoff time and interest for whatever payment you enter, so you can find a number that fits your budget.
Should I consider a balance transfer?
If your balance is large and your APR is high, a 0% intro-APR balance-transfer card can save real interest — as long as you clear most of it before the intro period ends and the transfer fee is worth it. Try the balance-transfer calculator.