Credit Card Payoff Calculator
See how long it takes to pay off a credit card balance and how much interest you'll pay. Find the monthly payment to be debt-free by a target date.
Months to Pay Off
34
2 yrs 10 mo
Total Interest
$1,750
Payoff: April 2029
Total Paid
$6,750
Frequently Asked Questions
Why does paying only the minimum take so long?
Minimum payments are typically set to cover little more than the monthly interest charge, so almost nothing goes toward the principal balance. As the balance barely shrinks, interest continues to accrue at nearly the same rate, creating a slow cycle that can keep you in debt for many years.
How is credit card interest calculated?
Credit card interest is calculated daily. Your APR is divided by 365 to get a daily periodic rate, which is applied to your average daily balance each day of the billing cycle. The result is added to your balance at the end of the cycle. Our calculator simplifies this to a monthly rate (APR ÷ 12) for payoff projections, which produces accurate results over time.
How can I pay off my credit card faster?
Pay more than the minimum every month — even an extra $20–$50 can shave months off your payoff timeline. Consider the avalanche method (paying highest-APR cards first) or the snowball method (paying smallest balances first for motivation). A balance transfer to a 0% intro APR card can also pause interest accrual and let all your payment go to principal.