The Credit Card Payoff Calculator tells you how many months it will take to pay off a balance, and how much interest you’ll pay along the way. Simply fill in the fields above and click Calculate to get an instant result.
This calculator is part of Calculate Wiki’s Finance Calculators collection.
What You’ll Need
- Current Balance
- Annual Interest Rate (APR)
- Monthly Payment
Formula Used
Months to pay off = −ln(1 − (r × Balance) ÷ Payment) ÷ ln(1 + r), where r is the monthly interest rate
Example Calculation
Using example inputs — Balance = $5,000; APR = 22%; Monthly Payment = $200 — the Credit Card Payoff Calculator returns:
| Value | Result |
|---|---|
| Months to pay off | 34 |
| Total interest paid | $1,800.00 |
| Total amount paid | $6,800.00 |
34 months to pay off, with $1,800.00 in interest.
Helpful Information
Results from the Credit Card Payoff Calculator are estimates based on standard formulas used in the finance calculators field. Real payoff timelines can vary with fees, promotional rates, or changes to your payment amount.