Credit Card Calculator

Tired of watching your credit card balance barely move? High interest rates mean a big part of every payment goes to interest instead of the debt itself. Use the free calculator below to see how long it will take to pay off your card, how much interest you will pay, and how much you can save by paying a little more.

Credit Card Pay-Off Calculator »

How the calculator helps

Enter your card balance and interest rate (APR), then choose how you plan to pay: a fixed amount each month or the minimum payment only. You can also add an extra amount each month. The calculator shows your payoff date, the total interest you will pay, and how much time and interest you save compared to making only the minimum payments. A month-by-month table shows exactly where each payment goes.

Ways to pay off your credit card faster

• Pay more than the minimum. Minimum payments are designed to keep you in debt for years. Even a small extra amount each month can cut your payoff time dramatically.
• Set a fixed payment and keep it. Minimum payments shrink as your balance falls. Paying the same amount every month keeps your payoff on a steady track.
• Stop adding new charges. Paying off a card is much harder while the balance keeps growing. Consider setting the card aside until it is paid off.
• Use windfalls. A tax refund, bonus, or side income applied straight to the balance can shave off months of interest.
• Look into a lower rate. A balance transfer offer or a lower-rate personal loan may cut your interest costs. Check fees and the length of any promotional rate first.

Before you rely on the numbers

The calculator assumes a fixed interest rate and no new purchases or fees. Many cards have variable rates, and issuers calculate minimum payments in different ways, so your real results may vary. Check your latest statement for your exact APR and minimum payment rule, and use the calculator's minimum payment settings to match them.

Try it now

Run a few scenarios and see how much sooner you could be debt-free:

Credit Card Pay-Off Calculator »

This calculator and article are for general information only and are not financial advice. Talk with a financial professional about your specific situation.