Credit Card Payoff Calculator: How Long Until You’re Debt-Free?
Estimate payoff time and interest from a card balance, APR, monthly payment, and optional extra payment.
Calculate your scenario
How the calculation works
This simplified model adds balance × APR ÷ 12 as interest once each month, then applies the payment. The final payment is reduced to the exact remaining amount. It stops after 1,200 months and rejects payments that cannot reduce principal. It assumes no new purchases, fees, changing APR, or issuer-specific minimum-payment rule. Real issuers often calculate interest daily.
Worked example
A $1,200 balance at 12% APR accrues $12 in the first modeled month. A $100 payment leaves $1,112. A $12 payment cannot reduce principal, so the tool reports that payoff may not occur.
How to read your results
The primary figure summarizes the entered scenario. The other figures separate deposits or contributions from modeled interest or investment growth, or show the change in purchasing power or payoff cost. Change an input to compare another scenario; the previous result is hidden until you calculate again.
Frequently asked question
Why might my statement show different interest?
Many issuers use average daily balances, differing billing-cycle lengths, grace periods, fees, and multiple APR categories. This is an educational monthly approximation.
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Sources and limits
CFPB credit-card interest explanation. Reviewed September 19, 2026. Financial rules and rates can change; verify current terms with the source or your provider.