Calculate how long it will take to pay off your credit card debt. See total interest, compare payment strategies, and find the best repayment plan. All calculations happen in your browser — your financial data never leaves your device.
This credit card payoff calculator helps you understand exactly how long it will take to eliminate your credit card debt and how much interest you will pay along the way. Compare different payment strategies to find the fastest and most affordable path to becoming debt-free. Whether you are paying the minimum, a fixed amount, or targeting a specific payoff date, see the real numbers and make an informed decision.
The minimum payment is typically calculated as the greater of 1% of your balance plus interest, or a fixed minimum amount (usually $25-$35). This calculator uses the standard formula: max(1% of balance + monthly interest, $25). Note that different issuers may have slightly different formulas.
Paying only the minimum can keep you in debt for many years and cost you thousands in interest. For example, a $5,000 balance at 19.99% APR with only minimum payments could take over 20 years to pay off and cost more than $6,000 in interest.
The savings can be dramatic. For a $5,000 balance at 19.99% APR, paying $200/month instead of the minimum could save you over $4,000 in interest and pay off the debt in about 2.5 years instead of 20+ years.
This calculator provides a close estimate based on standard minimum payment formulas. Your actual credit card issuer may use slightly different calculations for minimum payments, fees, or promotional rates. Always check your card agreement for exact terms.