Financial Tools
Credit Card Payoff Calculator
Estimate how long it will take to clear your balance. Compare paying only the minimum with a fixed monthly payment and see the interest you save.
Current Balance
Interest Rate (APR)
Fixed Monthly Payment
Minimum Payment Rule
Values shown are examples. Card issuers set their own minimum payment rule, check your statement and pick the closest one.
Minimum vs Fixed Payment
| Fixed Payment Saves You | n/a |
| Minimum Payment Only | $0 |
| Time to Pay Off | n/a |
| Debt-free By | n/a |
| Total Interest | $0 |
| Total Paid | $0 |
| Fixed Monthly Payment | |
| Time to Pay Off | n/a |
| Debt-free By | n/a |
| Total Interest | $0 |
| Total Paid | $0 |
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
A lower rate shortens every line above.
Compare cards on published APR, transfer fee and intro period.
Questions people ask
How does the page compare the minimum payment with a fixed payment?
It pays off the same balance at the same APR two ways. One path pays the minimum each month under the rule you pick, so the payment shrinks as the balance falls; the other pays your fixed amount every month until the balance is gone.
Which minimum payment rule should I choose?
Pick the one closest to your statement. The page offers interest plus 1% of the balance, 2% of the balance, or 3% of the balance, each with a $25 minimum, because card issuers set their own rule.
Why does paying the minimum take so long?
The minimum is tied to the balance, so as the balance falls the payment falls with it. More of each smaller payment goes to interest, and the payoff stretches out.
What if my fixed payment does not cover the interest?
The page shows a note with the first month of interest and tells you the balance never reaches zero. Raise the fixed payment above that interest to see a payoff date.
