Credit Card Payoff Calculator
Calculate how long it may take to pay off your credit card balance or the monthly payment needed for a desired payoff period.
Input Details
Results
Main Credit Card Results
Est. monthly payment
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Months to payoff
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Total Principal Paid
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Total Interest Paid
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Compare your payoff with a personal loan
Personal Loan APR (predefined)
7%
Est. monthly payment
—
Months to pay
—
Total Principal Paid
—
Total Interest Paid
—
Note: Personal Loan APR is fixed at 7% for comparison purposes only.
Compare your payoff with a balance transfer credit card
Intro APR (predefined)
0%
Est. monthly payment
—
Months to pay
18
Total Principal Paid
—
Total Interest Paid
—
Note: Intro APR is fixed at 0% and intro period is fixed at 18 months for comparison purposes only.
How to Use This Calculator and Other Details
Enter Credit Card Balance and Credit Card's Interest Rate.
Use either:
- Payment per month to determine how many months payoff may take; or
- Clear Payment per month and enter Desired months to payoff to calculate the required monthly payment.
Click Calculate to view:
- Est. monthly payment
- Months to payoff
- Total Principal Paid
- Total Interest Paid
Personal Loan Comparison and Balance Transfer Credit Card Comparison tables also display below the main Results.
Payoff period and total interest mainly depend on:
- Credit Card Balance
- Credit Card's Interest Rate
- Payment per month or Desired months to payoff
The calculation assumes:
- interest rate remains unchanged;
- no new purchases;
- no late fees, cash advances or additional charges.
Results display:
- Est. monthly payment
- Months to payoff
- Total Principal Paid
- Total Interest Paid
Users can change Payment per month or Desired months to payoff and click [Calculate] to compare repayment scenarios
