Credit Card Payoff Time Calculator
Enter your current balance, interest rate (APR), and the fixed monthly payment you plan to make to see how many months until payoff and the total interest cost.
About this calculator
Find out how many months it will take to pay off a credit card balance and total interest paid, based on your APR and monthly payment amount, using real amortization math.
Frequently Asked Questions
Why does my payment need to be higher than the interest charge?
If your monthly payment is less than or equal to the interest accruing each month, the balance will never shrink and this calculator will show zero months, meaning payoff is not possible at that payment level.
Does this account for new purchases?
No, this assumes no new charges are added to the card and only the existing balance is being paid down.
How can I pay off my card faster?
Increasing your monthly payment amount, even by a small fixed amount, or transferring the balance to a lower-APR card can dramatically cut both the payoff time and total interest paid.