Credit Card Payoff Calculator
Credit card interest is expensive. Enter your balance, APR and payment to see how long it takes to clear the card, the interest you will pay, and how much you save by paying more.
Time to clear
4y 6m
Debt-free date
March 2031
Total interest
$3,100.00
Total repaid
$8,100.00
Minimum-payment plan
4y 6m, $3,100.00 interest
You save by paying more
$0.00
How this was worked out
- Step 1Monthly interest rate = 22.9% ÷ 12 = 1.91%
- Step 2Interest this month = $95.42
- Step 3Balance after payment = 5,000 + interest − 150
- Step 4Repeating gives 54 payments
Assumes no new purchases and that interest is charged on the full balance each month.
Formula
Example
Input
$5,000 at 22.9% APR paying $150/month
Result
≈ 4 years 1 month; interest ≈ $2,350
Frequently asked questions
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