Credit Card Payoff Calculator

Calculate how long it takes to pay off credit card debt.

How to Do It Manually

Credit card payoff uses the amortization formula to calculate monthly payments needed to pay off the balance in a set time, accounting for interest.

Monthly Payment = Balance × [r(1+r)ⁿ] / [(1+r)ⁿ − 1] where r = monthly rate, n = number of months
  1. Enter your balance and APR.
  2. Choose a payoff timeline (e.g., 12 months).
  3. Calculate monthly interest rate: APR ÷ 12 ÷ 100.
  4. Apply the formula to find the monthly payment needed.

Frequently Asked Questions

What happens if I only pay the minimum?

Minimum payments are usually 1–3% of the balance. You'll pay far more interest and take years to pay off.

How much interest will I pay?

Total Interest = (Monthly Payment × n) − Balance.