Credit Card Payoff Calculator
Estimate payoff time and total interest from your balance, APR, and monthly payment.
Example: 3000 (works for USD/GBP)
Example: 22
Example: 100
Estimate how long it will take to pay off a credit card balance and how much interest you’ll pay based on your APR and monthly payment. Useful for quick budgeting checks in the US and UK.
Monthly rate = APR / 100 / 12 Each month: interest = balance × monthly rate principalPaid = payment − interest newBalance = balance − principalPaid Repeat until balance reaches 0. If payment ≤ interest, the balance will not decrease.
Balance: $3,000, APR: 22%, Monthly payment: $100. The calculator estimates payoff time in months/years and total interest paid over the payoff period.
Enter your current balance, APR, and monthly payment. The calculator simulates month-by-month interest and payments until the balance reaches zero, then shows the payoff time in months and years.
If your monthly payment doesn’t cover the monthly interest, the balance won’t go down (it can even grow). The tool will show an error and you’ll need to increase the monthly payment.
Yes. The math is the same for any currency. Just enter your numbers consistently (e.g., balance and payment both in USD or both in GBP).
It can be used that way if you enter your card’s minimum payment amount. However, minimum payments often change as your balance changes, so this is best as a quick estimate unless you keep the payment fixed.
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