Credit Card Calculator
Work out how long it takes to pay off a credit card balance at a chosen monthly payment, or the payment needed to clear it in a target time.
Runs 100% in your browser — nothing is uploaded.
Result
Formula
Payment for n months: P·r ÷ (1 − (1+r)^−n). Payoff is simulated monthly at APR ÷ 12.
About this calculator
Interest compounds daily on most cards; the monthly approximation is close for planning.
How to use
- 1
Enter your current credit card balance and the annual percentage rate (APR).
- 2
Either type in your monthly payment to see how long it takes to pay off the balance, or enter a target number of months to find the required monthly payment.
- 3
Review the results: payoff time or monthly payment needed, plus total interest and total paid.
Frequently asked questions
What is a good monthly payment to pay off my credit card?
A good monthly payment is one that you can afford while also covering at least the minimum payment. To minimize interest, pay as much as possible each month. The calculator can help you see how different payment amounts affect your payoff time and total interest.
Why does the calculator show an error if my payment is too low?
If your monthly payment is less than the interest that accrues each month, your balance will grow instead of shrink. In that case, it is impossible to pay off the debt with that payment amount. The calculator alerts you to increase your payment.
Does the calculator account for compound interest?
Yes, the calculator assumes monthly compounding, which is typical for credit cards. Interest is charged on the outstanding balance each month, including previously accrued interest if not paid off.
Please note: Results are estimates for general information only and are not professional or medical/financial advice.