See how many months it takes to pay off a credit card balance and how much interest you pay, from your APR and either a monthly payment or a target payoff time.
Months to pay off
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Total interest
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Total paid
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How It Works
Each month, interest is added to the balance at the monthly rate (APR divided by 12), then your payment is subtracted. The calculator repeats that step until the balance reaches zero.
In payment mode, you enter how much you pay each month. The calculator counts how many months it takes to clear the balance and sums the interest paid along the way.
In timeframe mode, you enter how many months you want to take. The calculator solves for the equal monthly payment needed to clear the balance in exactly that time, then reports the total interest.
Worked example: a $5,000 balance at 19.99% APR with a $200 monthly payment. Monthly rate = 0.016658; first month's interest is $83.29, so only $116.71 goes to principal. It takes about 31 months to pay off, with total interest of roughly $1,124 — bringing total paid to about $6,124.
Frequently Asked Questions
Why does paying a little more matter so much?
Credit card APRs are high, so most of a minimum payment goes to interest. Even a small increase in the monthly payment can cut the payoff time and total interest dramatically.
What is a good target timeframe?
Aiming for 12–24 months keeps total interest manageable for most balances. Shorter is better, but pick a payment you can sustain.
Does this include fees or new charges?
No. The calculator assumes you stop using the card and make only the computed payment each month. New charges or late fees will extend the payoff time.
What is the minimum payment and why is it dangerous?
Minimums are usually 1–3% of the balance plus interest, which often barely covers the monthly interest. Paying only the minimum on a $5,000 balance at 19.99% can take over 20 years and cost more than the original balance in interest.
Does making two payments a month help?
Yes. Interest is calculated on the average daily balance, so a mid-cycle payment reduces the balance before the next interest calculation. It is a small effect but compounds over time and can shave months off your payoff.
Should I use a balance transfer or personal loan instead?
A 0% balance transfer or a lower-rate personal loan can reduce interest, but only if you stop adding new debt. Compare the new APR, transfer fees, and the monthly payment you can afford against the numbers from this calculator.