Personal financeHow this is calculated Common questions
Credit card payoff calculator
Enter your balance, APR and monthly payment to see the payoff date, the total interest, and how much worse minimum payments would be.
Tool
Credit card payoff calculator
How long your balance really takes to clear — and what the interest costs.
Debt free in
3y 1m
$2,839 of interest along the way
Months to clear37
Total interest$2,839
Total repaid$9,239
Minimum payments onlynever
Interest on minimums$0
The balance is run down month by month: interest is charged at the APR divided by twelve, the payment is applied, and the remainder carries forward until the balance reaches zero. The minimum-payment comparison uses 2% of the balance or $25, whichever is larger.
- No new spending is added to the card.
- The APR is fixed and no promotional or balance-transfer rate applies.
- Fees, late charges and penalty rates are excluded.
- How long does it take to pay off a credit card?
- A $6,400 balance at 24.99% APR clears in about 33 months on $250 a month, with roughly $1,800 of interest. On minimum payments only it takes well over a decade.
- Why does my balance barely move?
- At a high APR most of a minimum payment is interest. If the payment is close to the monthly interest charge, the balance can stay flat or grow.