Credit Card Payoff Calculator
Enter your current credit card balance
Your credit card's APR
Your planned monthly payment
Additional amount to pay each month
Results
Payoff Time
Total Paid
Total Interest
How the Credit Card Payoff Calculator Works
This calculator simulates your balance month by month: each month, interest is charged on the remaining balance, then your payment (plus any extra you add) is applied, with the rest reducing your principal. It repeats this until the balance reaches zero, then reports how many months that takes and the total interest you'll pay along the way.
Adding even a small extra payment each month can meaningfully cut both the payoff time and total interest, since it reduces the balance that interest is charged on going forward.
Frequently Asked Questions
What if my payment doesn't cover the interest?
The calculator will flag this — if your payment is at or below the interest charged that first month, the balance would never shrink, so you'll need to increase your payment amount.
What counts as "extra payment"?
Any amount you pay beyond your regular minimum or planned payment. It goes straight toward the principal, speeding up payoff and cutting total interest.
Does this handle promotional or variable interest rates?
No — it assumes one constant APR for the entire payoff period. If your rate changes (e.g. a promo rate expires), re-run the calculator with the new rate and remaining balance.