Credit Card Payoff Calculator

Enter your current balance, the card APR and the minimum payment percentage. Optionally add a fixed monthly payment to see how much faster — and cheaper — a set payment is compared with paying only the minimum.

• Minimum payment — a percentage of the balance, which shrinks as the balance drops.
• Fixed payment — a set amount each month; if larger than the minimum it is used instead.
• Months to payoff — how long the balance takes to reach zero.
• Comparison — shows the cost of paying only the minimum so you can see the savings.

Suppose you owe $5,000 at 22% APR and your minimum payment is 2% of the balance (min $25):

• Paying only the minimum → about 28 years to pay off
• Total interest at minimum ≈ $9,400
• With a fixed $200/month → paid off in about 2 years 5 months, interest ≈ $1,300

That's roughly $8,100 saved — just from paying a fixed, affordable amount.

• Payoff time — how many months until the balance reaches zero at your payment plan.
• Total interest — everything paid on top of the balance; this is the true cost of carrying debt.
• Minimum vs. fixed — the comparison shows how much faster a fixed payment clears the debt.

Read our in-depth guide: How Credit Card Interest Works — APR, grace periods and why minimum payments trap you.

• Consumer Financial Protection Bureau — APR vs. interest rate
• Investopedia — Credit Card Debt