See how long it will take to pay off your credit card balance and how much interest you will pay.
Rates as of Q2 2025 (example)
| Period | Date | Payment | Principal | Interest | Balance |
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A credit card payoff calculator shows how long it will take to pay off your credit card balance based on your current balance, interest rate (APR), and the fixed monthly payment you plan to make. It also shows the total amount you'll pay — including interest — and your estimated payoff date, helping you see the real cost of carrying a balance.
Each month, interest is calculated on your remaining balance using your APR divided by 12, then the rest of your fixed payment reduces the principal. This repeats every month until the balance reaches zero. If your monthly payment is less than or equal to the interest charged each month, the balance will never be paid off — it can even grow.
Example: For a $5,000 balance at a 22% APR (example rate — enter your actual rate) with a $200 monthly payment, it would take roughly 32 months to pay off, with total interest of around $1,300 — meaning you'd pay roughly $6,300 in total for a $5,000 balance. (Note: all figures in this example are for illustration purposes only and do not represent actual rates or your card's terms.)
Credit card APRs in the US vary widely, often ranging from around 15% to over 25% depending on the card, your credit score, and whether a promotional rate applies — the 22% used as a default here is an example only (example rate used in this calculator — actual rates vary by card issuer and creditworthiness). Many cards also charge a minimum payment that's a small percentage of your balance, which — if you only pay the minimum — can mean paying off a balance over many years and paying far more in interest than the original amount borrowed.
If your fixed monthly payment is less than or equal to the interest charged each month, the balance will never be paid off under these terms — it can even grow. You'll need to increase your payment to make progress on the principal.
No — the default rate is an example only. Credit card APRs vary widely by card issuer, your credit score, and any promotional offers. Check your monthly statement for your actual APR.
Credit cards typically have high APRs compared to other loans, and interest compounds monthly on the remaining balance. The longer it takes to pay off, the more total interest accumulates on top of your original balance.
On high-APR balances, even a modest increase in your monthly payment can significantly reduce both the payoff time and the total interest paid, since more of each payment goes toward principal sooner.
No. This calculator assumes no new charges are added to the balance and a fixed monthly payment is made consistently until the balance reaches zero.
The avalanche method means paying the minimum on all your cards but putting any extra money toward the card with the highest APR first. This minimizes the total interest paid across all your balances over time.
Disclaimer: The information, rates, and figures provided on this page are for educational and illustrative purposes only. All rates and examples shown are sample values and do not reflect current or actual market rates or your card's terms. Financial rules and regulations change frequently. Always consult a qualified financial advisor or your card issuer before making any financial decisions.