Credit Card Payoff Calculator
Estimate payoff time and total interest based on your balance, APR, and monthly payment (or target payoff date). You can model either a fixed monthly payment or the payment needed to hit a target payoff timeline.
Inputs
$
%
$
Payoff estimate
Payoff time
34 months
Total interest$1,749.88
Payoff schedule
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $200.00 | $91.67 | $108.33 | $4,891.67 |
| 2 | $200.00 | $89.68 | $110.32 | $4,781.35 |
| 3 | $200.00 | $87.66 | $112.34 | $4,669.01 |
| 4 | $200.00 | $85.60 | $114.40 | $4,554.60 |
| 5 | $200.00 | $83.50 | $116.50 | $4,438.10 |
| 6 | $200.00 | $81.37 | $118.63 | $4,319.47 |
| 7 | $200.00 | $79.19 | $120.81 | $4,198.66 |
| 8 | $200.00 | $76.98 | $123.02 | $4,075.64 |
| 9 | $200.00 | $74.72 | $125.28 | $3,950.36 |
| 10 | $200.00 | $72.42 | $127.58 | $3,822.78 |
| 11 | $200.00 | $70.08 | $129.92 | $3,692.86 |
| 12 | $200.00 | $67.70 | $132.30 | $3,560.57 |
| 13 | $200.00 | $65.28 | $134.72 | $3,425.84 |
| 14 | $200.00 | $62.81 | $137.19 | $3,288.65 |
| 15 | $200.00 | $60.29 | $139.71 | $3,148.94 |
| 16 | $200.00 | $57.73 | $142.27 | $3,006.67 |
| 17 | $200.00 | $55.12 | $144.88 | $2,861.79 |
| 18 | $200.00 | $52.47 | $147.53 | $2,714.26 |
| 19 | $200.00 | $49.76 | $150.24 | $2,564.02 |
| 20 | $200.00 | $47.01 | $152.99 | $2,411.03 |
| 21 | $200.00 | $44.20 | $155.80 | $2,255.23 |
| 22 | $200.00 | $41.35 | $158.65 | $2,096.58 |
| 23 | $200.00 | $38.44 | $161.56 | $1,935.01 |
| 24 | $200.00 | $35.48 | $164.52 | $1,770.49 |
Show full schedule (34 rows)
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $200.00 | $91.67 | $108.33 | $4,891.67 |
| 2 | $200.00 | $89.68 | $110.32 | $4,781.35 |
| 3 | $200.00 | $87.66 | $112.34 | $4,669.01 |
| 4 | $200.00 | $85.60 | $114.40 | $4,554.60 |
| 5 | $200.00 | $83.50 | $116.50 | $4,438.10 |
| 6 | $200.00 | $81.37 | $118.63 | $4,319.47 |
| 7 | $200.00 | $79.19 | $120.81 | $4,198.66 |
| 8 | $200.00 | $76.98 | $123.02 | $4,075.64 |
| 9 | $200.00 | $74.72 | $125.28 | $3,950.36 |
| 10 | $200.00 | $72.42 | $127.58 | $3,822.78 |
| 11 | $200.00 | $70.08 | $129.92 | $3,692.86 |
| 12 | $200.00 | $67.70 | $132.30 | $3,560.57 |
| 13 | $200.00 | $65.28 | $134.72 | $3,425.84 |
| 14 | $200.00 | $62.81 | $137.19 | $3,288.65 |
| 15 | $200.00 | $60.29 | $139.71 | $3,148.94 |
| 16 | $200.00 | $57.73 | $142.27 | $3,006.67 |
| 17 | $200.00 | $55.12 | $144.88 | $2,861.79 |
| 18 | $200.00 | $52.47 | $147.53 | $2,714.26 |
| 19 | $200.00 | $49.76 | $150.24 | $2,564.02 |
| 20 | $200.00 | $47.01 | $152.99 | $2,411.03 |
| 21 | $200.00 | $44.20 | $155.80 | $2,255.23 |
| 22 | $200.00 | $41.35 | $158.65 | $2,096.58 |
| 23 | $200.00 | $38.44 | $161.56 | $1,935.01 |
| 24 | $200.00 | $35.48 | $164.52 | $1,770.49 |
| 25 | $200.00 | $32.46 | $167.54 | $1,602.95 |
| 26 | $200.00 | $29.39 | $170.61 | $1,432.34 |
| 27 | $200.00 | $26.26 | $173.74 | $1,258.60 |
| 28 | $200.00 | $23.07 | $176.93 | $1,081.67 |
| 29 | $200.00 | $19.83 | $180.17 | $901.50 |
| 30 | $200.00 | $16.53 | $183.47 | $718.03 |
| 31 | $200.00 | $13.16 | $186.84 | $531.19 |
| 32 | $200.00 | $9.74 | $190.26 | $340.93 |
| 33 | $200.00 | $6.25 | $193.75 | $147.18 |
| 34 | $149.88 | $2.70 | $147.18 | $0.00 |
How to use it
- Enter your balance and APR.
- Choose a mode: fixed monthly payment or target payoff months.
- Review payoff time, total interest, and the schedule.
- Try higher payments to see how interest drops.
Key formulas
- Monthly interest approximation
- Interest ≈ Balance × (APR/12)
- Actual card interest rules can vary by issuer and compounding.
FAQ
It depends on your balance, APR, and payment size. Higher payments reduce interest and shorten the payoff timeline.
Increase your monthly payment, reduce the APR if possible, and avoid new charges while paying down the balance. Even a small increase can save substantial interest over time.
It assumes a fixed balance with no new charges. New purchases or cash advances change the payoff timeline and interest.
Minimum payment rules vary by issuer. Enter your estimated minimum payment to model it.
Interest is calculated on the outstanding balance. Early on, the balance is highest, so interest makes up a larger share of the payment.
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Disclaimer
Estimate only. Credit card interest, fees, and minimum payment rules vary by issuer.