Credit Card Payoff Calculator
How long it takes to clear a card balance, and what the interest costs you.
Your figures
Result
How to use this tool
- Enter your figures in the fields on the left.
- Results update instantly as you type — there is no button to press.
- Change any input to see how sensitive the answer is to it.
Card interest compounds monthly at rates that dwarf almost any investment return. Paying more than the minimum has an outsized effect — try increasing the payment slightly and watch the timeline collapse.
How it works
The calculation runs in your browser as you type — there is no submit button and nothing is sent anywhere. Change any figure and the results update immediately, which makes it easy to see how sensitive the answer is to each input.
Every formula used here is standard and documented in the questions below. Where a result depends on an assumption, the assumption is stated rather than buried.
Frequently asked questions
Why does the minimum payment take so long?
Minimums are typically set at 1–3% of the balance, barely above the interest charge. At that rate a balance can take decades to clear and cost more in interest than the original spending.
Should I pay the highest rate or smallest balance first?
Mathematically, highest interest rate first costs least. Psychologically, clearing the smallest balance first builds momentum. Both work; the one you stick with wins.
Is a balance transfer worth it?
Often, if you clear the balance within the promotional period and account for the transfer fee. If you do not, the post-promotional rate can be worse than where you started.
Is this calculator free?
Yes, with no account, no limits and no data collection. It runs entirely in your browser.
Should I rely on this for a financial or medical decision?
No. It is a planning estimate built on standard formulas and stated assumptions. For decisions that matter, speak to a qualified professional who can account for your full circumstances.
Is this calculator accurate?
The arithmetic is exact — it uses the standard formula, shown in the questions above. What limits accuracy is the assumptions: the figures you enter, and factors the formula does not model such as fees, taxes and rule changes. Treat the result as a well-founded estimate rather than a quotation.
Do I need to sign up or download anything?
No. It runs in your browser, updates as you type, and stores nothing. There is no account, no download, and no limit on how many times you use it.
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Your files stay on your device. This tool runs entirely in your browser. No file is uploaded, transmitted, or stored. You can verify this by opening your browser's Network tab while using the tool.
Disclaimer. This calculator provides estimates based on standard formulas and the assumptions stated above. It is not financial, medical, tax or legal advice. For decisions that matter, consult a qualified professional. See our full disclaimer.