Credit Card Payoff Calculator
Show exactly when a card balance hits zero at a fixed payment — plus the interest it costs.
Calculate credit card payoff time and interest instantly. Free payoff calculator with months to debt-free, total interest and payoff date.
Calculator Inputs
About Card Payoff
Show exactly when a card balance hits zero at a fixed payment — plus the interest it costs.
Enter the balance, APR, and fixed monthly payment. The calculator solves the amortization equation for months, simulates interest accumulation, and names the payoff month.
If the payment barely covers monthly interest, it says so outright — that is the minimum-payment trap, where balances barely move. Raising the payment even modestly collapses both months and interest. All math runs in your browser.
Where it is used
Escaping minimum-payment traps, comparing payoff speeds at different budgets, and timing debt freedom.
How to use the Card Payoff
- Card Balance — enter the value (e.g. 8000).
- APR (%) — enter the value in % (e.g. 22).
- Monthly Payment — enter the value (e.g. 300).
- Calculate — press the Calculate button to see the result instantly above.
Formula
Months = −ln(1 − r·B/P) / ln(1+r); interest simulated month by month.
Examples
Example
Frequently Asked Questions
- Why does minimum-only take forever?
- Minimums are often ~2% of balance, barely above monthly interest. Principal shrinks glacially while interest compounds — the math above shows it plainly.
- Should I pay highest APR first?
- Mathematically yes (avalanche saves the most interest). Psychologically, some prefer smallest-balance-first (snowball) for quick wins.
- Does the payoff date account for new spending?
- No — it assumes zero new charges. Any new spending extends the timeline; freeze the card for the estimate to hold.