Credit Card Payoff Calculator

How to use the credit-card payoff calculator

Enter the requested values, review the units, and select Calculate. The result updates only after every input passes validation.

Interest is applied monthly to the remaining balance, then the payment is deducted. The payment must exceed the first month's interest so the balance decreases.

Worked example

A $1,000 balance at 12% APR with a $100 monthly payment is paid in about 11 months if no new purchases or fees are added.

Limitations

Credit cards commonly use average daily balance methods, and APRs or fees can change. This monthly estimate may differ from an issuer's payoff quote.

This calculator provides an educational estimate and does not replace advice from a qualified financial or tax professional.