Pay Off Credit Card Calculator
Calculate how long it will take to pay off your credit card balance and the total interest paid based on your monthly payment and interest rate.
Published by:
isCalculator Editorial Team
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How to use this tool?
How to Use the Pay Off Credit Card Calculator
- Enter your current balance – the total amount you owe on your credit card (e.g., 5000).
- Enter your annual interest rate (APR) – the yearly percentage rate your card charges (e.g., 18 for 18%).
- Enter your monthly payment – the fixed amount you plan to pay each month (e.g., 150).
- Click “Calculate” – the tool will show how many months (and years) it will take to pay off the balance, plus the total interest paid.
Important notes:
- All inputs must be positive numbers (dollars for balance and payment, percentage for APR).
- If your monthly payment is too low to cover the interest each month, the debt will never be paid off – the calculator will warn you.
- The calculation assumes you make the same fixed payment every month and no additional charges are added.
Previous Results
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Frequently Asked Questions
It uses your current balance, annual interest rate (APR), and monthly payment to compute the number of months required to pay off the debt and the total interest paid. It assumes the APR remains constant and you make the same payment each month.
If your payment is less than the interest accrued each month, your balance will never decrease. The calculator will warn you that the debt cannot be paid off under those terms.
This calculator is designed for credit cards with revolving balances, but it can approximate other fixed-payment loans with monthly compounding. For accurate results, use a loan-specific calculator.
