Free Credit Card Payoff Calculator: Months, Interest and Payment Needed

Enter your card balance, its APR (the yearly interest rate on your statement) and what you can pay each month to see how long payoff takes and how much interest you'll pay. Or enter how many months you want it to take to see the payment you'd need.

It runs in your browser. Nothing you type is saved or sent anywhere. The numbers filled in below are a made-up example; change them to yours.

Card balance, $: APR, %:

Monthly payment, $: or pay it off in this many months:

Work out my payoff

How the math works

• Each month, interest = balance × APR ÷ 12. Your payment covers that interest first, and the rest lowers the balance.
• If the payment is no more than the monthly interest, the balance never drops.
• Payment needed for a target = the standard loan payment formula for that balance, monthly rate and number of months.

Example (made up): a $3,000 balance at 24% APR paid at $150 a month takes 26 months and costs about $869.62 in interest. Paying about $283.68 a month clears it in 12 months instead.

Stop new charges on the card while you pay it down, or the payoff date moves. If you have more than one card, the debt payoff calculator compares snowball and avalanche orders. This is general information, not financial advice.

Track the payoff month by month

The Debt Snowball Spreadsheet ($5) lets you enter up to 10 debts once and see your estimated debt-free month, plus what to pay on each debt every month, with Snowball and Avalanche side by side. Works in Excel and Google Sheets.

Get the spreadsheet on Gumroad – $5

This template is also in the Complete Household Money Bundle (what's inside): all 13 home money spreadsheets for $29 (about $69 if bought one by one).

We make this template, so take that into account. The calculator above is free to use either way.

Related free guides

• How to Pay Off One Credit Card (Example Numbers)
• How to Pay Off Multiple Credit Cards (Example Numbers)
• How to Read a Credit Card Statement (Example Numbers)
• Debt Snowball vs Debt Avalanche: How to Pick One

More free tools: all calculators.

See all Cedar & Ledger templates