How long it takes to clear your balance

Credit card payoff calculator

Calculate how many months it takes to pay off a credit card balance, and the total interest paid, at a fixed monthly payment.

Formula

simulates monthly payments against the compounding balance until it reaches zero

Assumptions

• Assumes no further purchases are added to the balance — this models paying down existing debt only.
• If the monthly payment is at or below the monthly interest charge, the balance never reduces — payoff is shown as not achievable.
• Caps the simulation at 100 years for stability.

Frequently asked questions

Why is credit card interest so much more damaging than a loan?
Credit card APRs are typically far higher than mortgage or personal loan rates, and minimum payments are often set just above the monthly interest charge — meaning a huge share of each payment goes to interest rather than reducing what you owe.

What if I keep spending on the card while paying it down?
This calculator assumes no new purchases are added — if you keep spending, the balance (and time to pay off) will be higher than shown here.

What's the fastest way to pay off multiple cards?
Common strategies are the "avalanche" method (pay extra toward the highest-interest card first, minimums on the rest) which saves the most interest overall, or the "snowball" method (smallest balance first) which builds momentum through quick wins.