CREDIT CARD PAYOFF CALCULATOR

Enter the balance, purchase APR and monthly payment from your latest statement to estimate when the balance may be paid off. Add an optional extra monthly payment to see the potential time and interest savings instantly.

Considering a fixed-term consolidation loan? Use the Personal Loan Calculator to estimate its payment and total cost, then compare the complete terms carefully.

Scope: The values below are editable examples, not current market averages. This planning estimate assumes one balance and one fixed purchase APR, no new charges, no fees, on-time monthly payments, and simple daily interest between payment dates. Actual issuer calculations and card terms may differ.

Current Balance ($) Use the balance you want this plan to pay down.

Purchase APR (%) Enter the applicable APR shown on your statement.

Current Monthly Payment ($) Use the amount you plan to pay each month—not a percentage.

Extra Monthly Payment ($) Optional amount paid in addition to the current payment.

First Payment Date The payoff date is projected from this payment date.

Enter your values, then select Calculate Payoff. You can also press Enter from any field.

Estimated Payoff Results

Current Payment Plan

—

With Extra Payment

—

Current Plan Total Interest—

Current Plan Total Paid—

With Extra: Total Interest—

With Extra: Total Paid—

Estimated Time Saved—

Estimated Interest Saved—

The projection assumes the entered APR remains fixed and payments are made on the projected dates. Your statement is the authoritative source for the balance, APR, minimum due, fees and issuer calculation method.

Monthly Payoff Schedule

How This Credit Card Payoff Estimate Works

The calculator projects interest between monthly payment dates using the APR you enter divided by 365 as an estimated daily periodic rate. It then applies each payment to accrued interest first and the remaining amount to principal. The process repeats until the projected balance reaches zero.

Many card issuers calculate interest daily using a daily or average daily balance, but agreements can differ. Cards may also apply separate APRs to purchases, cash advances, balance transfers or promotional balances. This calculator intentionally models one balance and one APR so its assumptions remain visible.

Why an Extra Payment Changes the Result

When the payment exceeds the interest accrued for the cycle, the remainder reduces principal. A lower principal balance generally produces less interest in later cycles. The comparison above runs the same projection twice—once with the current monthly payment and once with the entered extra amount.

What This Estimate Does Not Include

New purchases, cash advances, balance transfers or annual and late fees
Variable APR changes, penalty APRs or promotional and deferred-interest rules
Multiple balance categories with different APRs
Issuer-specific minimum-payment formulas or payment-allocation rules

Official Consumer Information

💡 Practical Payoff Checks

📄 Start With Your Latest Statement

Use the balance and APR that apply to the debt you are modeling. If your statement lists multiple APR categories, calculate them separately or rely on your issuer's payoff information.

🛑 Keep New Charges Out of the Plan

The result assumes no new transactions. New purchases or fees increase the balance and can move the payoff date later than the estimate shown here.

✅ Check the Payment Against the Amount Due

This calculator does not determine your contractual minimum payment. Continue to pay at least the amount required by your issuer and make payments by the statement due date.