Credit Card Payoff Calculator
Estimate how long a credit card balance may take to repay with a fixed monthly payment.
Enter your values and press Calculate.
Planning estimate only. Replace sample values with figures that match your situation.
How this calculator works
Estimate how long a credit card balance may take to repay with a fixed monthly payment. It uses the values you enter and shows the main components separately so you can review the estimate rather than relying on one unexplained number.
Formula
The calculator simulates each month until the balance reaches zero, then totals the interest charged.
How to improve the estimate
- Keep the payment fixed rather than reducing it with the minimum due.
- Stop adding new purchases while following a payoff plan.
- APR changes, fees and daily compounding can change actual results.
Understanding the result
The result is for comparison and planning. Actual bills, lender calculations, taxes, fees, employment rules or contract terms may differ. Verify important decisions with the relevant provider, lender, employer, tax authority or other authoritative source.
Frequently asked questions
Why can a payment be too low?
If the payment does not exceed monthly interest, the balance will not decline under this simplified model.
Does this use daily interest?
No. It uses a monthly approximation based on APR divided by 12.
Will my statement match exactly?
Not necessarily. Issuers may use average daily balance, fees, variable APRs and different cycle lengths.
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Added in CostMeter V1.5 • September 2026