Credit Card Payoff Calculator
Also works as a credit card debt calculator. See when you'll be debt-free, or what payment it takes to hit a deadline.
Nothing you enter is sent to or stored by us. This runs entirely in your browser. Share puts your numbers in the link itself, so anyone who opens it can see them.
View year-by-year payoff schedule
| Year | Principal Paid | Interest Paid | Ending Balance |
|---|
Common questions
How much do I need to pay to be debt-free by a certain date?
Switch to "I have a payoff deadline" above, enter how many months you want to give yourself, and this calculates the exact monthly payment needed to hit that date.
What's the best way to pay off credit card debt fast?
Pay more than the minimum, prioritize your highest-interest balance first if you have several (debt avalanche), and avoid adding new charges while you pay it down. If you qualify, moving the balance to a 0% APR card can also cut costs. Try raising the monthly payment above to see exactly how much faster you'd be debt-free.
How is my payoff time calculated?
Based on your balance, APR, and monthly payment, this calculates exactly how many months it takes to reach $0, assuming no new charges are added and your payment stays the same each month.
What happens if I only pay the minimum payment?
Minimum payments are usually 1-3% of your balance, which mostly covers interest and barely touches the principal. This can stretch payoff to a decade or more and multiply your total interest. Try raising the monthly payment above to see how much faster and cheaper payoff becomes.
What's the difference between debt snowball and debt avalanche?
If you have multiple debts, snowball pays off the smallest balance first for quick motivation, while avalanche pays off the highest interest rate first to save the most money. Avalanche is usually cheaper overall; snowball is easier to stick with for some people.
Will paying more than the minimum hurt my credit score?
No, paying down a balance faster generally helps your credit score by lowering your credit utilization, which is one of the biggest factors in how your score is calculated.