See how long it will take to pay off your credit card balance — with a fixed payment or just the minimum — and how much interest you'll really pay.
Check your card statement — most cards charge 18% to 29% APR
The fixed amount you'll pay toward this card every month
Most issuers use 1% to 3% of the statement balance — check your statementThe lowest minimum payment your issuer charges, even on small balances
Any additional amount you can put toward this card each month
Time to Pay Off Card
--
-- months
Starting balance--
Payment method used--
Total interest paid--
Total amount paid--
Interest as % of total paid--
Principal vs Interest Breakdown
-- Principal-- Interest
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How Does the Credit Card Payoff Calculator Work?
This calculator simulates your card balance month by month. Each month, interest is added based on your APR, and then your payment is subtracted. You can choose to pay a fixed amount every month, or simulate paying only the minimum payment — which is usually a percentage of your balance with a dollar floor, and shrinks as your balance drops.
The Minimum Payment Trap
Because the minimum payment is recalculated on a shrinking balance, a large share of each payment goes toward interest rather than principal — especially early on. On a high-APR card with a low minimum percentage, this can stretch payoff out for decades and cost far more in interest than the original balance. This calculator shows you exactly how long that would take.
Why Extra Payments Matter
Every extra dollar you pay above the minimum or your fixed amount goes straight toward your principal balance, which lowers the interest charged the following month. Switching from a shrinking minimum payment to a steady fixed payment — even one equal to your first minimum payment — can cut years off your payoff time.
What This Calculator Applies To
This calculator works for credit cards, store cards, and any revolving line of credit with a reducing-balance APR and a percentage-based minimum payment. It supports multiple currencies including USD, GBP, EUR, CAD, AUD, INR, and BDT.
Frequently Asked Questions
A credit card payoff calculator estimates how long it will take to pay off your card balance and how much interest you'll pay, based on your balance, APR, and either a fixed monthly payment or your card's minimum payment.
Most issuers set the minimum payment as a percentage of your statement balance — typically 1% to 3% — or a flat minimum dollar amount, whichever is greater. As your balance drops, your required minimum drops too, which is why minimum-only payments take so long.
Because the minimum shrinks with your balance, a large share of every payment goes toward interest rather than principal. On high-APR cards, the minimum can be barely more than the interest charged that month, stretching payoff out for decades.
Any extra amount above your minimum or fixed payment reduces your principal directly, lowering future interest charges. Even a modest extra payment can cut years off your payoff time and save hundreds or thousands of dollars.
Pay more than the minimum whenever possible — ideally a fixed amount that doesn't shrink as your balance drops. With multiple cards, put extra money toward the highest interest rate card first (the avalanche method) while paying minimums on the rest.