BYTETOOLS

Credit Card Payoff Calculator

See how long it takes to clear a credit card balance and what the interest costs, comparing a fixed monthly payment against the minimum-payment trap.

32
Months to pay off
2 yr 8 mo
That is
$1,313.97
Total interest
$6,313.97
Total paid

Month-by-month payoff

MonthPaymentInterestPrincipalBalance
1$200.00$75.00$125.00$4,875.00
2$200.00$73.13$126.87$4,748.13
3$200.00$71.22$128.78$4,619.35
4$200.00$69.29$130.71$4,488.64
5$200.00$67.33$132.67$4,355.97
6$200.00$65.34$134.66$4,221.31
7$200.00$63.32$136.68$4,084.63
8$200.00$61.27$138.73$3,945.90
9$200.00$59.19$140.81$3,805.09
10$200.00$57.08$142.92$3,662.17
11$200.00$54.93$145.07$3,517.10
12$200.00$52.76$147.24$3,369.86
13$200.00$50.55$149.45$3,220.41
14$200.00$48.31$151.69$3,068.72
15$200.00$46.03$153.97$2,914.75
16$200.00$43.72$156.28$2,758.47
17$200.00$41.38$158.62$2,599.85
18$200.00$39.00$161.00$2,438.85
19$200.00$36.58$163.42$2,275.43
20$200.00$34.13$165.87$2,109.56
21$200.00$31.64$168.36$1,941.20
22$200.00$29.12$170.88$1,770.32
23$200.00$26.55$173.45$1,596.87
24$200.00$23.95$176.05$1,420.82
25$200.00$21.31$178.69$1,242.13
26$200.00$18.63$181.37$1,060.76
27$200.00$15.91$184.09$876.67
28$200.00$13.15$186.85$689.82
29$200.00$10.35$189.65$500.17
30$200.00$7.50$192.50$307.67
31$200.00$4.62$195.38$112.29
32$113.97$1.68$112.29$0.00

Assumes no new purchases, no promotional 0% period, no annual fee and a constant APR, with interest charged monthly on the remaining balance. Estimates only, not financial advice.

What is the Credit Card Payoff Calculator?

The ByteTools Credit Card Payoff Calculator simulates your card balance month by month at the APR you enter.

  • True month-by-month simulation, not an averaged approximation
  • Fixed payment or percent-of-balance minimum payment modes
  • Full payoff table with a CSV download
  • Warns when a payment never exceeds the monthly interest charge
  • Shows months to payoff, total interest and total paid
  • Runs entirely offline in your browser

How to use the Credit Card Payoff Calculator

  1. 1

    Enter your current card balance and the card's APR.

  2. 2

    Choose a fixed monthly payment, or switch to minimum-payment mode.

  3. 3

    For minimum payments, set the percentage of balance and the dollar floor your issuer uses.

  4. 4

    Read the months to payoff, total interest and total paid.

  5. 5

    Switch between the two payment modes to see the interest a fixed payment saves.

About the Credit Card Payoff Calculator

The ByteTools Credit Card Payoff Calculator simulates your card balance month by month at the APR you enter. It charges interest, applies your payment, and repeats until the balance reaches zero — so the answer accounts for the shrinking balance instead of using a rough average.

You can pay a fixed amount each month, or model the minimum payment your issuer actually asks for, which is usually a small percentage of the balance with a dollar floor. Because that percentage shrinks as the balance falls, minimum payments stretch a card out for years — switch between the two modes and the months-to-payoff and total-interest figures show you the difference.

The tool also detects the trap case where your payment is smaller than the monthly interest, so the balance grows instead of falling, and tells you the payment you need to make progress. Everything is computed in your browser and nothing is uploaded. Estimates only, not financial advice.

Frequently asked questions

How long will it take to pay off my credit card?

It depends on the balance, the APR and how much you pay. A $5,000 balance at 18% APR with $200 a month clears in 32 months and costs about $1,314 in interest. Raising the payment to $300 clears it in 20 months for about $797.

How is credit card interest calculated each month?

Your APR is divided by 12 to give a monthly periodic rate, which is applied to the balance. At 18% APR that is 1.5% a month, so a $5,000 balance accrues $75 of interest before your payment is applied. Card issuers usually compound daily, so real charges can be a few dollars higher.

Why do minimum payments take so long?

The minimum is normally a percentage of the balance, so it falls as the balance falls. That keeps the payment barely above the interest charge and stretches the payoff over many years. Fixing your payment at today's minimum amount is one of the fastest improvements you can make.

What happens if my payment is less than the interest?

The balance grows every month and the card is never repaid — this is called negative amortization. The calculator detects it and tells you the minimum payment that would start reducing the balance.

Does this account for new purchases on the card?

No. It assumes you stop spending on the card and only make payments. Any new purchases add to the balance and push the payoff date out, so treat the result as a best case for the balance you enter.

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