USA: Loans & debt
Credit Card Payoff Calculator
Find out when your credit card will be paid off and how much interest it will cost. Enter the balance and APR, then choose a fixed monthly payment or a target number of months. The tool also shows how long paying only the minimum would take.
How to use the Credit Card Payoff Calculator
- Enter your card balance and APR.
- Choose a fixed payment or a target payoff date.
- Enter the payment or the number of months.
- Compare with minimum payments.
Formula
Example
A $6,000 balance at 24.99% paid at $250 a month takes about 34 months and costs about $2,400 in interest. Minimum payments would take many years longer.
Pay it off faster
- Pay more than the minimum - even $50 helps
- Move the balance to a 0% transfer card (watch the 3-5% fee)
- Ask your issuer for a lower APR
- Use the avalanche method across several cards
Related free tools
Frequently asked questions
Why does the minimum payment take so long?
Most of a minimum payment goes to interest, so the balance falls very slowly.
Does paying off a card raise my credit score?
Yes - lower utilization usually helps your score quickly.
Should I close the card after paying it off?
Keeping it open (and unused) helps your credit history and utilization.
Is a personal loan better?
It can be if the rate is clearly lower than your card APR.
Results are estimates for planning, not financial advice. Confirm important decisions with a qualified professional. Your inputs stay in your browser and are not sent to Soft2Cloud.
Last updated: November 2026