Financial Calculators
Credit Card Payoff Calculator
Find out how long it will take to pay off a credit card balance and how much interest you will pay at a fixed monthly payment.
Quick guide
Enter your card balance, its APR, and the fixed amount you plan to pay each month. The calculator shows how many months payoff will take and how much interest you will pay, since each payment covers that month’s interest first.
Read the full explanationHow It Works
Credit cards charge interest on the remaining balance each month. A payment first covers that month’s interest; only the rest reduces the balance, which is why minimum payments stretch debt for years.
Formula Used
n = −ln(1 − r·B/P) ÷ ln(1 + r), where B is the balance, P the monthly payment, and r = annual rate ÷ 12.
Example Calculation
A $6,000 balance at 22% APR with $250 monthly payments takes about 32 months and costs roughly $1,900 in interest.
Practical Use Cases
- Build a realistic payoff plan for card debt.
- See how a small payment increase saves months of interest.
- Compare against a lower-rate consolidation loan.