Credit Card Payoff Calculator
See how long it takes to pay off credit card debt and how much extra payments save. Includes full amortization schedule.
Frequently Asked Questions
How is the payoff time calculated?
The calculator simulates month-by-month payments. Each month, interest accrues on the remaining balance at your APR divided by 12. Your payment is applied to interest first, then principal.
How do extra payments help?
Extra payments go directly toward principal, reducing the balance that accrues interest in future months. Even small extra amounts can save thousands in interest over time.
What if my minimum payment is too low?
If your monthly payment barely covers interest, the balance will shrink very slowly. The calculator will show when payoff would take an extremely long time, signaling you need to increase payments.