Credit Card Payoff Calculator
See how many months it takes to pay off a credit card at a fixed monthly payment, and how much interest you'll pay along the way.
Time to pay off2 yrs 9 mo
- Total interest
- $2,100.76
- Total paid
- $8,100.76
- Payment to clear it in 12 months
- $564.17
Payoff time by monthly payment
For a $6,000 balance at 22.9% APR:
| Monthly payment | Time to pay off | Total interest |
|---|---|---|
| $150 | 6 yrs 5 mo | $5,435.44 |
| $200 | 3 yrs 9 mo | $2,991.01 |
| $250 | 2 yrs 9 mo | $2,100.76 |
| $300 | 2 yrs 2 mo | $1,629.87 |
| $400 | 1 yr 6 mo | $1,136.16 |
| $500 | 1 yr 2 mo | $879.66 |
How it works
Each month, interest (APR ÷ 12) is added to the balance and your payment is subtracted, until the balance reaches zero.
This assumes no new purchases on the card.
Tips
- Stop adding new charges to the card you're paying off, or the finish line keeps moving.
- Paying the highest-APR card first saves the most money. Paying the smallest balance first gives quicker wins.
- Call your card company and ask for a lower rate. It works more often than people expect.
Frequently asked questions
Should I pay more than the minimum?
Minimum payments are usually set low, which stretches payoff out for years. Raise the payment above to see how fast total interest drops.
Results are estimates for planning only and are not financial advice.