Free credit card payoff calculator to find how long to pay off debt, total interest cost, and monthly payment needed for your target date.
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Struggling with credit card debt? Our calculator shows you exactly how long it will take to pay off your balance and how much interest you'll pay. Calculate the monthly payment needed to be debt-free by a target date, or see how much faster you could pay off debt with extra payments.
Credit card interest compounds monthly on your remaining balance. Even small increases in monthly payments can dramatically reduce total interest paid and payoff time. With an 18% APR, a $5,000 balance with minimum payments can take over 20 years to pay off, costing thousands in interest.
Payoff Time Formula
Months = -ln(1 - (Balance × Rate) / Payment) / ln(1 + Rate)Enter a set payment amount to see when you'll be debt-free and total interest paid.
Set a payoff date to find the required monthly payment amount.
See how additional payments reduce interest and accelerate payoff.
Minimum payments are typically 1-3% of balance, with most going to interest. A $5,000 balance at 18% APR with 2% minimum payments takes 30+ years and costs over $7,000 in interest.
Absolutely. Even $50 extra per month can cut years off your payoff time and save thousands in interest. Pay as much as you can comfortably afford.
The debt avalanche method (paying highest interest first) saves the most money. The debt snowball (smallest balance first) provides psychological wins. Both work—choose what keeps you motivated.
If you can get a 0% APR transfer offer, it can help—but only if you pay off the balance before the promotional period ends. Watch for transfer fees (typically 3-5%).