APR (Annual Percentage Rate) is the yearly interest rate on your card. Divide by 12 to get the monthly rate applied to your balance. You'll find it on your statement.

Why is the minimum payment so expensive?

Minimum payments are usually 1-2% of your balance, barely covering interest. This keeps you in debt for years and compounds interest on a slowly shrinking balance.

What if my payment is less than the monthly interest?

If your payment doesn't cover the interest charged that month, your balance grows instead of shrinking. The calculator flags this and shows the minimum you need to pay.

Credit Card Payoff Calculator

Find out exactly when you'll be debt-free and how much interest you'll pay. Compare your payment plan against the minimum payment cost.

How to use

1
Enter your balance and APR
Type your current credit card balance and the annual percentage rate (APR) from your statement.
2
Choose your mode
Either enter your planned monthly payment to see when you'll be debt-free, or enter a target number of months to find the required payment.
3
See the impact
Your payoff date and total interest appear instantly, alongside a comparison showing what minimum payments would actually cost.

Why use this tool?

Shows your exact debt-free date based on your monthly payment
Minimum payment comparison reveals the true cost of paying slowly
Two modes: fix the payment or fix the payoff timeline
Runs entirely in your browser — your financial data never leaves your device

Frequently asked questions

What is APR?: APR (Annual Percentage Rate) is the yearly interest rate on your card. Divide by 12 to get the monthly rate applied to your balance. You'll find it on your statement.
Why is the minimum payment so expensive?: Minimum payments are usually 1-2% of your balance, barely covering interest. This keeps you in debt for years and compounds interest on a slowly shrinking balance.
What if my payment is less than the monthly interest?: If your payment doesn't cover the interest charged that month, your balance grows instead of shrinking. The calculator flags this and shows the minimum you need to pay.

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