Credit Card Payoff Calculator
Find out how long it will take to clear your balance and how much interest you'll pay at a fixed monthly payment.
Your card
Why credit card debt is expensive
Credit cards typically carry high interest rates, and because interest is charged on the remaining balance every month, paying only a little each month means most of your payment goes to interest rather than reducing what you owe. Increasing your monthly payment even slightly can cut both the payoff time and the total interest dramatically — try it above and watch the numbers change.
Frequently asked questions
What if my payment is too small?
If your monthly payment doesn't cover the monthly interest, the balance never falls. The calculator will flag this so you know to increase the payment.
Should I pay more than the minimum?
Almost always yes. Paying above the minimum reduces the principal faster, which lowers future interest and shortens the payoff period.