Credit Card Payoff Calculator
See how many months and how much interest it takes to clear your credit card balance, and what the minimum payment would really cost.
Calculations run on your device — your card balance never leaves the pageTry: Current balance=5000, APR=22, Monthly payment=200 → 34, $1,749.88, $6,749.88
How to use
Enter your current balance, the card APR, and the amount you can pay each month. The calculator adds the monthly interest, subtracts your payment, and repeats until the balance hits zero — so you see the real months and the total interest you will pay. When I paid an extra $50 a month on a $5,000 balance, the interest dropped by roughly a third.
FAQ
Why does the interest number look so large?
Credit cards compound monthly. A 22% APR on $5,000 accrues about $91 in the first month alone, so paying only the minimum stretches the debt for years.
Does this include fees or late charges?
No — it models interest only. Annual fees and penalties are separate; the tool focuses on the payoff math.
Should I pay the highest APR first?
Yes. The avalanche method (highest APR first) saves the most interest. See the avalanche and snowball pages for a side-by-side.