Credit Card Payoff Calculator
Work out how long it takes to clear a credit card balance and what it costs in interest.
Escaping the balance
Credit card debt is expensive, and paying only a little each month can stretch it out for years at high cost. This works out how long a balance will take to clear at a given payment and the total interest, so you can see the real cost and how paying more shortens it dramatically.
Enter your balance, rate and monthly payment to see the payoff.
Why the minimum trap is so costly
Credit cards carry some of the highest interest rates in consumer finance, and they are designed so the minimum payment is a small fraction of the balance — which means paying only the minimum can take many years and cost more in interest than the original debt. Because interest is charged on the remaining balance, every amount above the minimum attacks that balance directly and saves interest out of proportion to its size. Seeing the difference between minimum-only and paying more, laid out in months and total cost, is often the jolt that changes behaviour. Clearing high-interest card debt is usually the highest-return financial move available, since avoiding that interest beats almost any investment return.
Credit Card Payoff Calculator FAQ
Why does paying only the minimum cost so much?
The minimum is a small fraction of the balance, so at a card's high rate it can take years to clear and cost more in interest than the original debt.
Why does paying extra help so much?
Interest is charged on the balance, so every amount above the minimum reduces it directly and saves interest out of proportion to its size.
Is anything uploaded?
No. The calculation happens in your browser.