Credit Card Payoff Calculator

How to use

1. 1Pick a common scenario chip or type your card balance, APR, and currency to load the calculator with real numbers.
2. 2Choose a plan mode: Fixed payment for an amount you will pay every month, Minimum only to model paying just the issuer minimum, or Target months to solve for the payment that hits a debt-free deadline.
3. 3Optionally adjust the Minimum-payment formula (percent of balance and floor) to match your statement; defaults match common US issuers.
4. 4Read the headline payoff time or required payment, the total interest and total paid, and the Vs minimum-only summary that quantifies the months and money you save by paying more.
5. 5Use Show schedule for the month-by-month breakdown or Copy CSV to drop the schedule into a spreadsheet.

About this tool

Credit Card Payoff Calculator simulates a single-card payoff month by month, so you can see the real cost of carrying a balance and the real benefit of paying more than the minimum. Three modes cover the three questions people actually ask. Fixed payment mode takes a balance, an APR, and the monthly payment you plan to make, then returns the payoff time, total interest, total paid, and a month-by-month schedule. Minimum only mode applies a typical US issuer minimum formula (a percent of the balance plus accrued interest, with a hard floor) and shows the long, expensive grind that paying only the minimum produces. Target months mode reverses the question: enter how many months you want to be debt free, and the calculator solves for the monthly payment that gets you there at the current APR. Every result is paired with a Vs minimum-only summary that quantifies the months and currency saved by paying more than the issuer asks for. A schedule view shows the per-month interest and principal split, and a Copy CSV button drops the schedule into a spreadsheet for budgeting. The math uses the standard amortization step: monthly rate equals APR divided by 12, monthly interest equals balance times the monthly rate, and new balance equals balance plus interest minus payment. The minimum-payment formula matches what most major US issuers use: max(percent of balance + accrued interest, minimum floor), capped at the remaining balance. Currency, percent, floor, and APR are all editable so the calculator matches your card. Useful for anyone planning a payoff, comparing transfer offers, sanity-checking a get-out-of-debt budget, or just understanding why a credit card balance lingers for decades when only the minimum is paid. Every number is computed in your browser; no balance, APR, or payment you enter is ever sent to a server.

Free to use. Works in your browser. No signup, no login.