A credit card payoff calculator shows how long it takes to pay off a balance at different monthly payment amounts and how much interest will be paid. Paying only the minimum on a $5,000 balance at 20% APR can take 18+ years and cost $5,800 in interest. Doubling the minimum payment cuts both the time and interest by more than half.
Difficulty:beginner
References
🔒
100% Free
No sign-up ever
✓
Accurate
Verified formulas
⚡
Instant
Results as you type
📱
Mobile Ready
All devices