Credit card payoff calculator
How long until this card hits zero, and what it costs you on the way. Or pick a date and get the monthly payment that makes it happen.
Paid off in
2 yrs 11 mo
35 payments
Paying $250 instead would finish 9 months sooner and save $497.
Payment schedule
| Month | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $95.00 | $105.00 | $4,895.00 |
| 2 | $93.01 | $107.00 | $4,788.01 |
| 3 | $90.97 | $109.03 | $4,678.98 |
| 4 | $88.90 | $111.10 | $4,567.88 |
| 5 | $86.79 | $113.21 | $4,454.67 |
| 6 | $84.64 | $115.36 | $4,339.31 |
| 7 | $82.45 | $117.55 | $4,221.75 |
| 8 | $80.21 | $119.79 | $4,101.97 |
| 9 | $77.94 | $122.06 | $3,979.90 |
| 10 | $75.62 | $124.38 | $3,855.52 |
| 11 | $73.25 | $126.75 | $3,728.78 |
| 12 | $70.85 | $129.15 | $3,599.62 |
| 13 | $68.39 | $131.61 | $3,468.02 |
| 14 | $65.89 | $134.11 | $3,333.91 |
| 15 | $63.34 | $136.66 | $3,197.25 |
| 16 | $60.75 | $139.25 | $3,058.00 |
| 17 | $58.10 | $141.90 | $2,916.10 |
| 18 | $55.41 | $144.59 | $2,771.51 |
| 19 | $52.66 | $147.34 | $2,624.17 |
| 20 | $49.86 | $150.14 | $2,474.03 |
| 21 | $47.01 | $152.99 | $2,321.03 |
| 22 | $44.10 | $155.90 | $2,165.13 |
| 23 | $41.14 | $158.86 | $2,006.27 |
| 24 | $38.12 | $161.88 | $1,844.39 |
| 25 | $35.04 | $164.96 | $1,679.43 |
| 26 | $31.91 | $168.09 | $1,511.34 |
| 27 | $28.72 | $171.28 | $1,340.06 |
| 28 | $25.46 | $174.54 | $1,165.52 |
| 29 | $22.14 | $177.86 | $987.66 |
| 30 | $18.77 | $181.23 | $806.43 |
| 31 | $15.32 | $184.68 | $621.75 |
| 32 | $11.81 | $188.19 | $433.56 |
| 33 | $8.24 | $191.76 | $241.80 |
| 34 | $4.59 | $195.41 | $46.40 |
| 35 | $0.88 | $46.40 | $0.00 |
How to pay off credit card debt
- Stop the balance growing. Take the card out of your wallet and off saved payment methods.
- Pick a fixed payment you can make every month, above the minimum. Keep paying that amount even as the minimum due shrinks.
- If you have several cards, focus on one. Minimums on all, extra on either the highest APR (avalanche) or the smallest balance (snowball).
- Lower the rate if you can. Call and ask for a lower APR, or compare a balance transfer or consolidation loan.
- Put windfalls on the balance: tax refunds, bonuses, sold items.
Wondering what the minimum alone would cost? The minimum payment calculator shows how long that takes, often decades.
Questions people ask
How long will it take to pay off my credit card?
Enter your balance, APR and the fixed amount you’ll pay each month. The calculator applies one month of interest (APR ÷ 12) and then your payment, repeating until the balance reaches zero. That count of months is your payoff time, assuming no new charges.
How much should I pay to clear my card in a year?
Switch to “Pay off by a date”, set 12 months and it shows the fixed payment needed. For a $5,000 balance at 22.8% APR that is about $469 a month.
How do I pay off credit card debt fastest?
Stop adding new charges, pay a fixed amount well above the minimum, and put windfalls on the balance. If you have several cards, target one at a time with the avalanche or snowball method. A 0% balance transfer can help if you can clear it within the promo period.
Why is my real payoff a little different?
Card issuers charge interest daily on your average daily balance, and the number of days per billing cycle varies. This calculator uses the monthly approximation (APR ÷ 12), which is typically within a few dollars over the life of the payoff.
What is the average credit card APR?
The Federal Reserve publishes the average rate on credit card accounts assessed interest in its G.19 consumer credit release; in recent years it has been above 20%. Use the exact APR on your own statement for this calculator.