Credit Card Payoff Calculator
Enter your balance, APR, and monthly payment. See exactly when you'll be debt-free, what the interest really costs — and how much faster one extra payment gets you out. Runs in your browser; nothing is stored.
That payment doesn't outrun the interest — the balance never reaches zero. Raise the monthly payment.
How the math works
Credit card interest compounds monthly: each month your card charges roughly balance × (APR ÷ 12) in interest, and only the part of your payment above that amount reduces the balance. On a $5,000 balance at 24% APR, the first $100 of every payment is interest. That's why a $150 payment takes over four years while a $250 payment takes about two — the extra $100 attacks the balance directly every single month.
This is also why the fastest wins come from either raising the payment or lowering the APR (through payoff, consolidation, or a balance-transfer offer). Small changes compound in your favor exactly the way interest compounds against you.
Frequently asked questions
How long will it take to pay off my credit card?
It depends on balance, APR, and payment. A $5,000 balance at 24% APR with $150/month takes about 56 months and ~$3,320 in interest; at $250/month it's about 26 months and ~$1,450. Run your own numbers above.
Why does paying only the minimum take so long?
Most of a minimum payment is interest. Only the remainder reduces your balance, so the debt shrinks very slowly — and the bank's math is designed that way. Anything above the minimum goes 100% to the balance.
What is APR and where do I find mine?
APR is your card's yearly interest rate — the US average is above 21%. Find yours on your statement, in your card's app under "interest & fees," or in your card agreement.
Should I pay the highest-APR card or the smallest balance first?
Highest-APR first (avalanche) always costs least in interest; smallest-balance first (snowball) gives faster wins. The best method is the one you'll stick with — our snowball calculator compares both.
Is this free? Is my data stored?
Completely free, and the math runs in your browser — nothing you enter is sent anywhere. For ongoing tracking with live bank balances, PayDownPro™ is free for your first card.
This calculator is for information only and isn't financial advice. Results are estimates; your card's exact billing math may differ slightly.