Credit Card Payoff Calculator
See how long a fixed monthly payment takes to clear your card, and the interest cost.
Formula & methodology
Each month: interest = balance × APR/12 ; balance = balance + interest − payment, until cleared.
Interest accrues monthly on the outstanding balance. If the payment does not exceed the first month’s interest, the balance never falls and payoff is impossible.
Worked example
- $3,000 at 18% APR, $150/mo → ≈ 24 months, ~$605 interest
Frequently asked questions
Why does a small payment never clear the card?
If your payment is less than the monthly interest, the balance grows or stays flat. You must pay more than the first month’s interest to reduce the principal.
Is the APR the same as the monthly rate?
No. The monthly rate is the APR divided by 12. This tool does that conversion for you.
Privacy
All processing happens locally in your browser. Your data is never uploaded.
Disclaimer: Estimates assume a fixed rate and payment with no new charges or fees. Real card terms may compound daily and vary.