Credit Card Payoff Calculator

See how long it takes to pay off your credit card and what it costs in interest

Card balance

$100$50,000

Interest rate (APR)

0%36%

Monthly payment

$10$5,000

Or: debt-free in how many months?

3120

Debt-free in

34 months (2 yr 10 mo)

Total interest $1,750 · total paid $6,750

Payment to be debt-free in 24 months

$259

Total interest $1,225

Interest in the first month

$92

Assumes no new purchases, a fixed APR and interest compounded monthly. Card issuers calculate interest on the average daily balance, so your statement may differ slightly.

How this calculator works

Credit card interest is charged on the balance every month, so a small payment can barely cover the interest. If your payment is not larger than one month of interest, the balance never goes down.

Enter your balance, APR and monthly payment to see your payoff date and total interest. Or set a target number of months to see the payment you need.

Paying even a little more than the minimum shortens the payoff dramatically. Stopping new charges on the card matters as much as the payment amount.

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