Credit Card Payoff
Become debt-free — faster
See how long it will take to clear your balance and how much interest you'll pay with a fixed monthly payment.
Payoff Estimate
Months to payoff -
Total interest -
Total paid -
Tip
If your monthly payment is below the monthly interest, the balance will not reduce. Increase the payment to ensure payoff.
Credit card payoff — frequently asked questions
Why doesn't my credit card balance go down with the minimum payment?
Minimum payments are designed to cover interest plus a tiny amount of principal. On high-rate cards, the interest alone eats most of the payment, so the balance barely moves. Paying a fixed amount above the minimum is the single most effective way to escape the cycle.
How is credit card interest calculated?
Most cards use the average daily balance method and a monthly periodic rate (APR ÷ 12). Interest compounds every billing cycle, which is why carrying a balance is so expensive compared to paying in full each month.
How long will it take me to pay off my card?
The calculator simulates month-by-month payoff using your balance, APR, and payment plan. Increase the monthly payment and you'll see the payoff date jump forward — often by years. Aim for at least 2–3× the minimum whenever possible.
Financial guides to go deeper
Short, practical reads that pair with our calculators.
How to Pay Off Credit Card Debt Faster
Snowball vs. avalanche and the fixed-payment discipline that beats both.
Credit CardsThe True Cost of Paying Only the Minimum
A $5,000 balance at 24% APR becomes decades and more-than-doubled cost at the minimum.
LoansThe Surprising Power of Extra Payments
Real numbers on how $50–$200 extra per month reshapes any long-term loan.