Finance & Business Calculator

Credit Card Payoff Calculator

Estimate how long it will take to pay off a credit card, how much interest you may pay, and what payment is needed to hit a target payoff timeline.

Credit card balance and payment

Current balance

APR (%)

Monthly payment

Extra monthly payment

New monthly charges

Target payoff months

Enter your balance, APR and monthly payment. Add an extra payment to see how much faster the card can be paid off.

The target payment card estimates the monthly payment needed to pay off the starting balance within your chosen number of months.

Each month the calculator estimates new balance = balance + interest + new charges - payment.

Interest is estimated with monthly rate = APR / 12.

How is credit card payoff time calculated?

The calculator applies monthly interest, adds optional new monthly charges, subtracts your payment and repeats until the balance reaches zero.

Why does my statement show a different payoff date?

Issuers may use daily balance methods, fees, promotional rates or changing minimum payments, so this calculator is an estimate.

What happens if my payment is too low?

If the payment does not cover monthly interest and new charges, the balance will not be paid off. The calculator warns you when that happens.

Does extra payment help?

Yes. Extra payment reduces principal faster, which usually lowers total interest and shortens payoff time.