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How long to pay off my card?

Credit card payoff calculator. See when you will be debt-free.

Enter your balance, interest rate, and monthly payment to see how long payoff takes and how much interest you pay along the way.

Open the calculator

Results are estimates for planning. They are not financial, tax, or legal advice.

Three steps to a payoff estimate.

Fill in the card, pick a payment plan, and read the result.

1

Enter your card details

Type your current balance, the yearly interest rate in percent, and your minimum payment.

2

Pick a payment strategy

Choose Fixed amount and enter a monthly payment. Choose Percent of balance and enter a percentage. Or choose Minimum plus extra and enter an extra payment to add to your minimum.

3

Read the result

See the time to pay off, total interest, total paid, and a comparison of payment plans.

How the payoff is worked out.

The calculator goes month by month. Each month it divides the yearly rate by 12 and applies it to the remaining balance to get the interest for that month. The rest of your payment lowers the balance. It repeats until the balance is gone. In the last month it only charges what is still owed. If the payoff would take more than 600 months, it stops counting there.

Your monthly payment depends on the strategy. Fixed Amount uses the number you enter. % of Balance takes that percentage of your starting balance. Aggressive adds your extra payment to your minimum. In every case the payment is never lower than your minimum payment, and it stays the same each month. The percentage is worked out once on the starting balance, so it does not shrink as the balance falls.

The Payment Comparison shows how long payoff takes with the minimum only, your current plan, and your current plan plus $100 more each month. The calculator adds no new charges to the card. It does not include a balance transfer.

Common questions

What do I need to enter?
Your current balance, your yearly interest rate, and your minimum payment. Then pick a payment strategy. You can find these on your card statement.
What is the difference between the three strategies?
Fixed Amount uses one monthly payment you choose. % of Balance uses a percentage of your starting balance. Aggressive adds an extra amount on top of your minimum payment.
What if my payment is lower than the minimum?
The calculator raises it to your minimum payment. It never works with a payment below the minimum you entered.
What if my payment is too small to cover the interest?
The balance would not go down. The calculator stops after 600 months, which is 50 years. If you see a very long result, try a larger monthly payment.
What do the example buttons do?
Low, Medium, High, and Very High Debt fill in a sample balance, rate, and monthly payment. They set the minimum payment to 3% of the balance. You can change any value after.
Does the calculator include a balance transfer?
No. The estimate uses your balance, interest rate, and monthly payment only.

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