Credit Card Payoff
How long until the card is paid off, or what to pay to clear it by a date.
Debt-free in
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Type the balance to see when the card is paid off.
If you paid only a typical minimum (1% of the balance plus that month's interest, at least $25):
Yearly schedule
| Year | Paid | Interest | Balance |
|---|
How this works
Each month's interest is the balance times the APR divided by 12, rounded to the cent. Your payment covers that interest first and the rest pays down the balance. The last payment is whatever clears what is left, so the balance ends at exactly zero.
Fixed payment tells you how many months it takes. Pay by a date works the other way: it finds the smallest monthly payment, to the cent, that clears the card in the number of months you choose. A payment has to be more than the first month's interest, or the balance never goes down.
The comparison assumes a typical minimum payment: 1% of the balance plus that month's interest, and never less than $25 (or the whole balance when it is smaller). Cards differ, and yours is on your statement. Every result assumes no new purchases, fees or rate changes, and cards that charge interest daily come out a little different. The payoff date counts from a first payment one month from today.
What you type is saved on this device so you can come back to it. Clear all empties it, and Undo brings it back.
Saved on this device only. Nothing is sent anywhere.