Credit Card Payoff Calculator
A fixed payment beats a minimum payment by years. Enter your balance, APR and monthly payment to see the payoff time and interest cost.
How it works
Each month, interest of balance × APR ÷ 12 is added, then your payment is subtracted (the last payment is smaller). The loop repeats until the balance is zero; if the payment is at or below the first month's interest, the balance can never fall.
Example: $5,000 at 18% APR paying $200 a month: 32 months, $1,313.96 interest, $6,313.96 total. Paying only a $100 minimum-style amount would take far longer and cost far more.
Frequently asked questions
Why does the last payment differ?
Because the remaining balance plus final interest is usually smaller than the regular payment — you never overpay.
What is the minimum-payment trap?
Minimums are often interest plus 1% of balance, so early payments barely touch principal and the payoff stretches for a decade or more.
Would a balance-transfer card help?
A 0% introductory period can cut interest sharply, but only if you clear the balance before the period ends and account for any transfer fee.
Should I keep using the card while paying it off?
New purchases add balance and interest, and can restart the cycle. Pausing new charges is usually the fastest route to zero.