Debt Payoff
Calculator
Time or payment.
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Debt
Credit Card Payoff Calculator
Enter your balance, APR and monthly payment to see how long payoff takes and the total interest.
Time to pay off
—
How long at this payment.
| Total interest | — |
|---|---|
| Total you pay | — |
| Debt-free by | — |
| Monthly payment | — |
Show our math
Enter your figures above to see the step-by-step working.
Everything computed client-sideEverything computed client-side — nothing leaves this page
How the Credit Card Payoff Calculator Works
Each month your card charges interest on the balance — the APR divided by 12 — and your payment first covers that interest, with whatever’s left reducing the principal. This calculator steps through month by month until the balance hits zero, so it captures exactly how many months it takes and how much interest you pay along the way.
The big lesson: a low payment goes mostly to interest, so the balance barely moves. If your payment is at or below one month’s interest, the balance never falls at all — the calculator warns you when that happens. Paying more than the minimum, even a little, shortens the payoff dramatically.
each month: balance × (APR ÷ 12) added, then payment subtracted
Frequently Asked Questions
How long will it take to pay off my credit card?
It depends on the balance, APR and how much you pay each month. Enter those three and this calculator simulates the payoff month by month, showing the number of months and total interest.
Why does my balance barely go down?
Because most of a small payment goes to interest. On a $5,000 balance at 21% APR, the first month’s interest alone is about $88 — anything you pay above that is all that reduces the principal.
What happens if I only pay the minimum?
Minimum payments stretch payoff over years and multiply the interest. Paying a fixed higher amount — rather than a shrinking minimum — clears the card far faster and cheaper.
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