How to use the Credit Card Payoff Calculator
- Enter your current balance and the card’s APR.
- Choose a fixed monthly payment, or a target number of months.
- See your payoff time and the total interest.
About this tool
Credit cards charge some of the highest interest rates in consumer finance — often over 20% APR. Paying only the minimum can stretch a balance out for many years and cost thousands in interest.
Tips to pay off faster
- Avalanche method: pay extra on the highest-APR card first to save the most money.
- Snowball method: clear the smallest balance first for quick motivation.
- Consider a 0% balance-transfer card, but watch the transfer fee and the end date of the promo.
- Stop adding new charges while you pay down debt.
Frequently asked questions
Why is my balance barely going down?
At high APRs, much of each payment goes to interest. Increasing the payment even slightly can cut months off.
What is APR?
Annual Percentage Rate — the yearly interest rate charged on your balance.
Is the result exact?
It’s an estimate assuming no new charges and a fixed APR.