How long will it take to pay off your credit card? Enter your balance, interest rate and monthly payment to see when you will be debt-free and how much interest you will pay. This credit card payoff calculator also shows the payment you need to clear the balance in the number of months you choose.
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How it works
Each month, interest is added to the balance at your APR ÷ 12, then your payment is taken off. If your payment is smaller than the monthly interest, the balance never goes down, and the calculator tells you the minimum needed to make progress.
Frequently asked questions
Why does paying the minimum take so long?
Minimum payments are often only a little more than the interest, so most of each payment goes to the card company rather than reducing what you owe. Paying even a little more each month shortens the time a lot.
Should I use the avalanche or snowball method?
With several cards, paying off the highest interest rate first (avalanche) saves the most money, while paying off the smallest balance first (snowball) gives quicker wins. Run each card through the calculator to plan your order.
Results are estimates and assume no new spending on the card. Related: Loan calculator · Savings goal calculator