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Credit Card Payoff Calculator
Enter your balance, APR, and monthly payment. See your payoff date and total interest instantly. No sign-up. Math runs in your browser — nothing is sent anywhere.
📱 Get DebtFree (multi-debt planner) — $3.99
About DebtFree
How the math works
The calculator above uses the standard credit card amortization formula:
- Each month, interest is calculated as
balance × (APR / 12).
- Your monthly payment is applied: interest first, then principal.
- The remaining balance carries forward to the next month.
- This repeats until the balance reaches $0.
It assumes a fixed APR, a fixed monthly payment, and no new charges. Real credit cards may use daily compounding (slightly more interest), variable APRs, and have fees — use this as a planning estimate, not a guarantee.
Why minimum payments are a trap
A typical credit card minimum payment is around 1–2% of the balance, plus interest. On a $5,000 balance at 22.99% APR with $50/month minimum payment:
- Payoff time: the math doesn't actually converge — you'd accrue interest faster than you pay it down. The card issuer would eventually adjust the minimum.
- Real-world payoff: on the same balance with a typical 1% + interest minimum, payoff takes 20+ years and you pay more than double the original balance in interest.
The single most powerful move on credit card debt: pay more than the minimum. Even an extra $50/month often cuts the payoff time in half.
Snowball vs avalanche (when you have multiple cards)
If you only have one credit card, just maximize the payment. If you have multiple debts (multiple cards, a loan, medical bills), you need a payoff order strategy:
| Method | Order | Best for |
|---|
| Avalanche | Highest APR first | Math optimizers — saves the most total interest |
| Snowball | Smallest balance first | Motivation hunters — quick wins build momentum |
Both work. The best method is the one you'll actually stick with for 18–36 months. Read the full snowball vs avalanche comparison →
What DebtFree (the iOS app) adds
The calculator above handles one debt. Most people in serious payoff have 2–6 debts. DebtFree:
- Tracks multiple debts (credit cards, loans, medical, student loans)
- Lets you pick snowball or avalanche order
- Shows your overall debt-free date — and updates it in real time as you log payments
- What-if tool: "what if I throw an extra $200 at this card?" — instant payoff date update
- Zero data leaves your device — no bank login, no account, no server-side data
- $3.99 one-time, no subscription
FAQ
Does this save my data?No. The calculator runs entirely in your browser. Nothing is sent to a server, nothing is saved. Refresh the page and your inputs are gone.
Can I trust the payoff number?It's accurate for the inputs you provide, assuming fixed APR and fixed monthly payment. Real-world variables (variable APR, fees, missed payments, new charges) will move the actual number.
Should I pay off credit card debt or invest?Generally, paying off credit card debt at 20%+ APR is mathematically better than investing — almost no investment reliably beats 20% returns. But this depends on your situation. This is educational content, not financial advice.
What if I have multiple cards?Use this calculator to model each one, or download DebtFree to plan all of them together with snowball/avalanche ordering.
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