Finance Tools
Credit Card Payoff Calculator
Estimate how long it will take to pay off a credit card based on balance, APR, and monthly payment.
Estimate how long it will take to pay off a credit card based on your balance, interest rate, and monthly payment amount.
How to use this credit card payoff calculator
- Enter your current credit card balance.
- Enter the annual interest rate (APR) shown on your statement.
- Enter the amount you can pay each month.
- Click Calculate to see how many months it will take to pay off your card and how much interest you will pay.
Example
For a $5,000 credit card balance at 19.99% APR with a $200 monthly payment, this calculator shows:
- How many months (and years) it will take to pay off the card.
- The total amount you will pay over time.
- The total interest cost of carrying the balance.
More tools in Finance Tools
- Balance Transfer Calculator
Compare the cost of staying with your current credit card versus moving your balance to a new card with an introductory APR and transfer fee.
- Debt Snowball Calculator
Use the debt snowball method to see how quickly you can pay off multiple debts using a fixed monthly budget.
- Debt Avalanche Calculator
Use the debt avalanche method to pay off debts by focusing on the highest interest rate first and minimizing total interest paid.
- Credit Card APR Savings Calculator
Estimate how much interest you could save by reducing your credit card APR, based on balance, payments, and payoff timeline.