Credit Card Payoff Calculator
Find how long it takes to clear credit card debt and interest paid.
How to use this tool
- Enter card balance and APR.
- Set your monthly payment (or min %).
- Add an optional extra top-up each month.
- View payoff date, months and total interest.
How it works
Each month: daily interest accrues on the balance, your payment is applied, and the remaining balance carries over. It iterates monthly until zero.
Tips
- Paying double the minimum can cut years off the timeline.
- A balance transfer at 0% still needs a payoff plan.
- Never carry a balance if you can pay in full monthly.
Limitations
Assumes a constant APR; promotional rates and fees change the math.
Frequently asked questions
How is interest charged?
Daily on the balance at your APR/365, compounded monthly. Payments are applied after interest accrues.
Why do I owe more than I borrowed?
If your payment is small relative to interest, most of it goes to interest — the balance barely moves.
What's a realistic minimum payment?
Typically 1–3% of balance. The calculator defaults to 2%, editable.