Credit Card Payoff Calculator
See exactly how long it will take to pay off your credit card and how much interest you'll pay in total.
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Time to Pay Off
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Total Interest Paid$0
Total Amount Paid$0
📐 Formula
Monthly Interest = Balance × (APR ÷ 12). Remaining Balance = Previous Balance + Interest − Payment
Frequently Asked Questions
Credit card interest uses the daily periodic rate (APR ÷ 365). Each day, interest accrues on your outstanding balance. That's why paying more than the minimum saves significant money.
On a $5,000 balance at 22.9% APR with a $100 minimum payment, it would take over 8 years to pay off and cost more than $4,000 in interest alone.
For credit cards, APRs below 15% are considered good. Most rewards cards range from 18–28%. A 0% introductory APR period is ideal for paying down existing balances.