See how long it will take to pay off your credit card debt and calculate required payments
Required Monthly Payment
$2,087,241.83
To pay off in 24 Months
26.00
2.2 Years
$97,748.95
$50,097,748.96
0.2%
Our credit card payoff calculator shows how long it will take to pay off your credit card debt and how much interest you'll pay. Use it to create a payoff strategy and see the impact of different payment amounts.
A credit card payoff calculator simulates your credit card debt repayment based on your current balance, interest rate, and monthly payment. It shows the timeline to become debt-free and total interest cost.
Credit cards typically have high interest rates (15-25%+), making them expensive to carry balances on. Understanding your payoff timeline helps you create a realistic debt elimination plan.
This calculator is essential for anyone carrying credit card debt. It helps you see the true cost of minimum payments vs. larger payments, and motivates you to pay off debt faster.
Enter your total credit card balance you want to pay off.
Tip: If you have multiple cards, calculate each separately or use the total balance.
Input your credit card's APR. This is typically 15-25% for most cards.
Tip: Your APR is shown on your credit card statement. Higher APRs make debt much more expensive.
Enter how much you can afford to pay each month. This should be more than the minimum payment to make progress.
Tip: Paying only the minimum keeps you in debt for years and costs thousands in interest. Even small increases in payment make a big difference.
Alternatively, enter how quickly you want to pay off the debt to see the required monthly payment.
Tip: Setting a target payoff date helps you stay motivated and creates a clear goal.
Result: You'll see how many months it takes to pay off, total interest paid, total amount paid, and a chart showing your balance decreasing over time.
Credit card interest compounds daily, and payments are applied to interest first, then principal. The calculator simulates each month's balance reduction.
$5,000 balance at 18% APR. Paying $200 per month vs. minimum payment of $150.
Interpretation: With $200/month, you'd pay off in 30 months and pay $1,000 in interest. With minimum $150/month, it takes 48 months and costs $2,200 in interest. The extra $50/month saves $1,200 and 18 months!
Assumes no new charges
Does not account for balance transfers or promotional rates
Actual results depend on payment timing
Generally, pay off high-interest credit card debt first. Credit card interest (15-25%) is much higher than savings account returns (1-5%), so you save more by eliminating debt.
Two popular strategies: Debt Snowball (pay minimums on all, extra on smallest balance first) for motivation, or Debt Avalanche (extra on highest interest rate first) to save the most money.
Call your card issuer to request a lower rate, transfer balance to a 0% APR card, or consolidate with a personal loan at a lower rate. Improving your credit score also helps qualify for better rates.