Credit Card Payoff Calculator

See how long it will take to pay off a credit card balance, and how much faster you can do it than paying only the minimum.

Time to pay off36 months (3.0 years)
Total interest paid$2,001
Total paid$7,001
If you only paid the minimum
At minimum payments only, this balance would take more than 50 years to pay off (and cost far more in interest than the balance itself).
Assumes a typical minimum payment of 2% of the balance (or $25, whichever is higher) — check your card's actual terms, as they vary.

Credit card interest rates are among the highest of any common consumer debt, often 20% or more, which means minimum payments can take years — sometimes decades — to clear a balance while costing far more in interest than the original purchase. This calculator shows exactly how long payoff will take under a fixed payment plan you choose, compared against what happens if you only ever pay the typical minimum.

Frequently asked questions

This calculator provides an estimate for general informational purposes only and is not tax or financial advice. Actual results may vary based on deductions, credits, benefits, and local tax rules. Consult a licensed tax professional or financial advisor for guidance specific to your situation.