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Credit-card payoff

Set a payment and see when the balance ends—or choose a payoff term and calculate the payment it requires.

By the SterlingCat editorial team · Last updated 2026-08-02 · Calculated in your browser

The key points

  • A payment must exceed the interest added during the first modeled month, or the balance cannot fall.
  • The model shows the full payoff time, total interest, and the last payment instead of stopping at a rounded estimate.
  • New purchases, fees, promotional rates, and issuer-specific daily-balance calculations are excluded.
Decision guideWhy Your Credit Card Takes So Long to Pay Off, and What an Extra $50 Changes

Your card balance

Choose a payment or payoff term

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%
$

Use your statement APR and a payment you can sustain. No entries leave this browser.

Your payoff plan

Monthly payment

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Payoff time
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Total interest
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Total paid
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This is an equal-monthly-period model, not an issuer statement. Credit-card interest is often calculated from daily balances; check your agreement.

Balance over time

Year-by-year payoff schedule
PaymentPaidInterestBalance

How we calculate this

For each equal monthly period, the model adds opening balance × annual rate ÷ 12, applies the payment first to interest and then to principal, and repeats until the balance reaches zero. The final payment is capped at the amount due.

What to enter

Use the annual percentage rate that applies to the balance and a fixed payment you can make consistently. If you enter a payoff term, the tool solves the level payment using the standard annuity formula and then verifies it with the month-by-month schedule.

Important limitation

Credit-card agreements can calculate interest from daily balances and can apply different rates to purchases, balance transfers, or cash advances. This simplified projection does not replace the issuer’s statement or agreement.

Sources

Grounded in authoritative primary sources:

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