Estimate credit card payoff time and total interest at a fixed monthly payment.
Also known as: calculate credit card payoff time and interest calculator, credit card payoff calculator, calculate credit card payoff time and interest, credit cards finance, credit cards calculate credit card payoff time and interest
Results update when you click Calculate Payoff.
Payoff time
37 months
Sep 2029
Interest as % of balance
40%
Paydown schedule (sample)
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Mo 1 | $250.00 | $125.47 | $124.53 | $6,374.53 |
| Mo 2 | $250.00 | $127.87 | $122.13 | $6,246.65 |
| Mo 3 | $250.00 | $130.32 | $119.68 | $6,116.33 |
| Mo 4 | $250.00 | $132.82 | $117.18 | $5,983.51 |
| Mo 5 | $250.00 | $135.37 | $114.63 | $5,848.14 |
| Mo 6 | $250.00 | $137.96 | $112.04 | $5,710.18 |
| Mo 12 | $250.00 | $154.60 | $95.40 | $4,825.12 |
| Mo 18 | $250.00 | $173.24 | $76.76 | $3,833.31 |
| Mo 24 | $250.00 | $194.13 | $55.87 | $2,721.90 |
| Mo 30 | $250.00 | $217.55 | $32.45 | $1,476.45 |
| Mo 36 | $250.00 | $243.78 | $6.22 | $80.80 |
Estimate credit card payoff time and total interest at a fixed monthly payment. Each month: interest = balance × APR/12; principal = payment − interest; new balance = old balance − principal.
Each month: interest = balance × APR/12; principal = payment − interest; new balance = old balance − principal.
$6,500 at 22.99% APR with $250/mo pays off in ~32 months and ~$2,400 interest.
If payment only covers interest, principal never decreases — increase payment or negotiate APR.