N

Runs in your browser · nothing is uploaded

Credit Card Payoff Calculator

Find out when you'll be debt-free, how much interest you'll pay, and how much faster a fixed or extra monthly payment clears the card than the minimum.

Your card

USD
%

The purchase APR on your statement.

USD
USD

To clear it in 12 months pay about $470.14; in 24 months, $261.62.

Card's minimum payment rule
%
USD

Check your statement — common rules are 1% plus interest, or 2–3% of the balance, with a minimum amount.

Your plan

Paid off in 2 yr 11 mo

2 yr 11 mo

Paid off in Sep 2029 paying $200.00 a month

Interest paid
$1,859.78
Total paid
$6,859.78

Compare strategies

Payoff time and interest for each payment strategy
Minimum payments only19 yr 4 mo · $8,454 interest
$200.00 a month2 yr 11 mo · $1,860 interest

Estimate only. Interest is worked out monthly as balance × APR ÷ 12; most cards charge on the average daily balance, so real figures will differ a little. It assumes no new purchases, fees or rate changes.

Month by month

Payments, interest and balance by month
MonthPaymentInterestBalance
1$200.00$95.42$4,895.42
2$200.00$93.42$4,788.84
3$200.00$91.39$4,680.22
4$200.00$89.31$4,569.54
5$200.00$87.20$4,456.74
6$200.00$85.05$4,341.79
7$200.00$82.86$4,224.65
8$200.00$80.62$4,105.27
9$200.00$78.34$3,983.61
10$200.00$76.02$3,859.63
11$200.00$73.65$3,733.28
12$200.00$71.24$3,604.53
13$200.00$68.79$3,473.31
14$200.00$66.28$3,339.60
15$200.00$63.73$3,203.33
16$200.00$61.13$3,064.46
17$200.00$58.48$2,922.94
18$200.00$55.78$2,778.72
19$200.00$53.03$2,631.74
20$200.00$50.22$2,481.97
21$200.00$47.36$2,329.33
22$200.00$44.45$2,173.78
23$200.00$41.48$2,015.26
24$200.00$38.46$1,853.72
25$200.00$35.38$1,689.10
26$200.00$32.23$1,521.33
27$200.00$29.03$1,350.36
28$200.00$25.77$1,176.13
29$200.00$22.44$998.58
30$200.00$19.06$817.63
31$200.00$15.60$633.24
32$200.00$12.08$445.32
33$200.00$8.50$253.82
34$200.00$4.84$58.66
35$59.78$1.12$0.00

How it's calculated

  1. Interest for the month = balance × APR ÷ 12.
  2. Your payment is applied: first to that interest, the rest to the balance.
  3. Repeat until the balance is zero. The final payment is only what's owed.

Example: $1,200 at 0% APR paying $100 a month takes exactly 12 months.

What it leaves out

New purchases, fees, cash advances, promotional rates and changes to your APR. Card issuers usually charge interest on the average daily balance, so treat the result as a close estimate rather than the exact figures on your statement. Not financial advice.

Frequently asked questions

How long will it take to pay off my credit card?+

Enter your balance, APR and what you'll pay each month. Each month interest is added (balance × APR ÷ 12) and your payment is taken off, until the balance reaches zero. The last payment only covers what's left.

Why are minimum payments so expensive?+

Minimums are usually a small percentage of the balance plus interest, so they shrink as the balance falls and most of each payment goes on interest. Paying a fixed amount — even a little above the first minimum — clears the card far sooner.

What if my payment is too low?+

If the payment doesn't cover the month's interest, the balance never falls, so there is no payoff date. The calculator tells you the interest you need to beat.

Why might my statement show different numbers?+

Most cards charge interest on the average daily balance, may have several rates (purchases, cash, balance transfers) and promotional periods, and add fees. This uses a simpler monthly calculation and assumes you don't make new purchases.

Where do I find my minimum payment rule?+

In your card agreement or on your statement. Common rules are 1% of the balance plus interest, or 2–3% of the balance, with a minimum such as $25.

Is my information stored?+

No. Everything is calculated in your browser and nothing is saved or uploaded.

More free Northlane tools