Credit Card Payoff Calculator
Enter your balance, APR, and monthly payment to see exactly when you'll be debt-free.
Calculate Your Payoff Time
How Payoff Time Is Calculated
Paying off a credit card is a form of amortization — each payment covers that month's interest first, and whatever's left chips away at your principal balance.
n = −log(1 − (r × B) ÷ P) ÷ log(1 + r)
Worked example: A $5,000 balance at 22% APR, paid at $200/month, takes 34 months (just under 2 years 10 months) and costs about $1,800 in total interest.
Faster Payoff Strategies
Pay minimums on everything, put extra toward the highest-APR card first. Saves the most interest overall.
Pay minimums on everything, put extra toward the smallest balance first. Builds momentum with quick wins.
Frequently Asked Questions
Why does paying only the minimum take so long to pay off?
Minimum payments are usually 1–3% of your balance, which barely outpaces the interest accruing each month, especially early on.
What's the difference between the debt avalanche and snowball methods?
Avalanche targets the highest-interest debt first and saves the most money. Snowball targets the smallest balance first, prioritizing quick wins.
Does a balance transfer actually save money?
It can, if the new APR is meaningfully lower and you pay off the balance before any promotional period ends. Always weigh the transfer fee against the interest you'd save.
How much faster is payoff if I pay every two weeks instead of monthly?
Splitting your payment into two biweekly payments effectively adds one extra full payment per year, which can meaningfully shorten a multi-year payoff.