Using the calculator
Enter Current balance, APR, Monthly payment, Extra monthly payment. Estimate payoff time, total interest and the savings created by increasing a fixed monthly credit card payment.
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Credit Card Payoff Calculator
Estimate payoff time, total interest and the savings created by increasing a fixed monthly credit card payment.
Enter your financial details
Use current balances, rates, payments, income, costs, or tax figures that match the scenario. The credit card payoff tool uses those values to produce an estimate you can compare and plan around.
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Payoff time—
Estimated payoff date—
Total interest—
Total paid—
Payment check—
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How to use this calculator
Reading the result
The result shows payoff time, total interest and the savings created by increasing a fixed monthly credit card payment.
Results are estimates based on the values entered. Review the Methodology and Calculator Disclaimer for important limitations.
Common questions
Why can minimum payments take so long to pay off a card?
Interest continues to accrue while the balance remains outstanding. If a payment is only slightly larger than the interest and fees, principal falls slowly.
Does an extra payment always reduce interest?
When the account applies the extra amount to principal without a penalty, reducing the balance sooner can reduce future interest. Actual account terms control how payments are applied.
What if my card has a promotional rate?
Use the rate that applies during the period you are modeling and remember that the rate can change when a promotion ends. Check the card agreement for the actual terms.
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