Credit Card Payoff Calculator
Summary
Estimates how long it will take to pay off your credit card balance and the total interest cost based on your monthly payment.
Example
A $5,000 balance at 18% annual interest with $200 monthly payments takes approximately 32 months (2 yrs 8 mo) to clear, costing around $1,400 in interest.
Explanation of Results
Time to Pay Off is the number of months until the balance reaches zero. Total Interest Paid is the extra cost above your original balance. Total Amount Paid is balance plus all interest. Monthly Interest Rate is the annual rate divided by 12 — the portion applied each month to your remaining balance.
