Enter your balance, APR, and monthly payment to see your payoff timeline.
This calculator simulates your balance month by month, applying interest and subtracting your payment, so you can see exactly how long a credit card balance will take to clear at your current payment level.
It uses your balance, interest rate (APR), and monthly payment to simulate month-by-month interest accrual and principal reduction until the balance reaches zero.
Minimum payments are often a small percentage of the balance, so a large portion goes to interest rather than principal, dramatically stretching out payoff time and total interest paid.
Even modest increases above the minimum payment can cut payoff time and total interest significantly, since more of each payment goes toward principal.