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Credit card payoff calculator
A revolving balance has no end date until you choose a payment. This page applies one fixed payment every month until the balance is gone.
Results
- Time to pay off
- 3 years 5 months
- Total interest
- $1,865.00
- Total paid
- $6,065.00
Interest is rounded to the cent, yen, or won each month. The last payment is the remaining balance plus that month's interest, so it can differ by a small amount.
- Year 1$3,268.00
- Year 2$2,098.67
- Year 3$631.57
- Year 4$0.00
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $1,800.00 | $868.00 | $932.00 | $3,268.00 |
| 2 | $1,800.00 | $630.67 | $1,169.33 | $2,098.67 |
| 3 | $1,800.00 | $332.90 | $1,467.10 | $631.57 |
| 4 | $665.00 | $33.43 | $631.57 | $0.00 |
How to use this page
- Replace the sample numbers with your own. Nothing is sent to a server.
- Read the result. It changes as you type.
- Open the formula if you want to recompute the result by hand.
- Copy the result if you want to keep it. The numbers you type stay in this browser and are not added to the address.
Formula
Each month, interest = balance × APR ÷ 100 ÷ 12, rounded to the currency unit. The payment must be larger than the first month's interest. Principal paid = payment − interest. The balance falls by that principal. A payment that only matches the interest never ends, and the page says so instead of inventing a date.
A fixed payment is not a minimum payment
Many cards set a minimum as a percent of the balance plus interest, so the required payment shrinks as the balance shrinks and the payoff stretches. This page does the stricter, simpler thing: the payment you type stays the same until the last month. If you only pay a shrinking minimum, the real payoff is longer than the figure here.
The rate is the purchase APR you type, nominal, divided by 12. A promotional 0% period is not a separate phase. You can run the 0% months by hand (balance minus payment times months) and then start this page with the remaining balance and the later rate.
What is missing
New purchases, cash-advance rates, late fees, and an annual fee are not in the loop. If you keep spending on the card, the payoff math does not apply. Stop adding purchases, or add them into the balance yourself before you trust the date.
Interest is the cost of carrying the balance, not a fee the page recommends you pay. The useful comparison is a larger payment against a smaller one. Raise the payment and watch the interest line.
Easy mistakes
- Using the minimum-payment formula from a statement and expecting this fixed-payment page to match the statement's 20-year minimum-payoff warning.
- Mixing two APRs. If a balance has a promo slice and a regular slice, this single-rate page is only a sketch. Split them and run twice.
- Counting a payment that arrives after the statement's cutoff as if it always saves that month's interest. Posting rules belong to the card.
Questions
Why did the page reject my payment?
The payment is less than or equal to the first month's interest. The balance would stay put or grow. Type a payment that is larger than balance × monthly rate.
Does paying twice a month help?
This model applies one payment a month. A real card may compute interest daily. Paying earlier in the month can cost less interest than this monthly sketch. The direction is the same: a lower average balance costs less.
Is the payoff date exact?
The page reports whole months from now. The calendar date depends on when you start and on the issuer's posting rules. Treat the month count as the planning figure.
Related tools
These figures are estimates you can recompute from the formula on the page. They are not a lender quote, a tax bill, a payroll statement, or financial advice.