Credit Card Payoff Calculator
Find out exactly what your credit card is costing you. Switch between two modes: enter a monthly payment to see how long it takes (and the total interest), or set a target number of months to see the payment you'd need. Either way you'll see how much of your money goes to interest.
Frequently asked questions
Why does a small minimum payment cost so much?+
Credit cards charge interest on the remaining balance every month. If your payment is barely above the interest, almost nothing goes to the balance, so it can take years and cost more in interest than the original purchase.
How can I pay off my card faster?+
Pay more than the minimum, and pay as early in the cycle as you can. Even a small fixed extra each month dramatically cuts both the time and the total interest — try it in the 'monthly payment' mode.
What APR should I enter?+
Use your card's purchase APR, shown on your statement. Many cards are in the high-teens to high-20s percent; the calculator applies it as a monthly rate (APR ÷ 12).