Enter your balance, your card’s APR and what you can pay each month to see how long it will take to clear the debt and how much interest you will pay on the way. You can also compare the result with paying only the minimum, which is usually the slowest and most expensive route.
How the calculator works
Each month the calculator adds interest to your balance (your APR divided by 12 applied to the remaining balance), subtracts your payment, and repeats until the balance reaches zero. The comparison table shows what happens if you add $25, $50 or $100 to your payment, so you can see how a small increase shortens the payoff and cuts interest.
Assumptions and limits
- It assumes a fixed APR and no new purchases, fees or cash advances after today.
- Real issuers calculate interest daily on your average daily balance, so your statement can differ by a few dollars from this estimate.
- Minimum-payment mode uses the larger of $25 or 1% of the balance plus interest, a common formula. Your card agreement has the exact rule.
- Results are for education only and are not personalized financial advice.
Ways to pay off a balance faster
- Pay more than the minimum every month. Our guide explains The True Cost of Only Paying the Minimum on Your Credit Card.
- Consider moving the balance to a 0% introductory offer if the fee is lower than the interest you would save: Balance Transfers Explained: How They Work and When They Make Sense.
- Avoid cash advances, which start accruing interest immediately: Should You Ever Use a Credit Card Cash Advance? Here’s the Real Math.
- Understand what drives your rate: How Federal Reserve Rate Decisions Affect Your Credit Card APR.
- See whether a 0% offer is worth the fee with our balance transfer calculator.
Official resources
The Consumer Financial Protection Bureau explains how credit cards work and how to avoid common costs, and lets you file a complaint if you have a problem with your card issuer.