What if I only make the minimum payment?

Enter your minimum payment amount to see how long payoff will take. If Infinity appears, raise the payment until the balance can drop.

Does this include new charges?

No. Avoid new purchases to stick to the payoff timeline; otherwise, rerun the calculator with the updated balance.

Why do I see Infinity or an error?

If PMT ≤ monthly interest, the balance can’t shrink. Increase the payment above interest to get a payoff timeline.

Can I include balance transfer fees?

Add the fee to your balance and use the promo APR to see the updated payoff duration.

Does this include annual fees or penalty rates?

No. Add fees to the balance or increase payment to offset them; penalty APRs aren’t modeled.

finance calculator

Credit Card Payoff Calculator

See how long it will take to pay off a credit card balance based on your monthly payment and APR.

Results

Months to payoff: 17.40
Total interest paid: $721 USD

How to use this calculator

Enter your balance, APR, and the monthly payment you plan to make.
We solve for payoff months; if payment is too low to cover interest, you’ll see Infinity.
Review payoff timeline and total interest paid at that payment level.

Inputs explained

Current balance: Outstanding credit card balance to pay off.
APR: Annual percentage rate on the card.
Monthly payment: Dollar amount you’ll pay each month (higher pays off faster).

How it works

We apply the standard revolving-credit payoff formula that solves for the number of months until the balance hits zero.

If your payment is too small to cover interest, the calculator warns you by returning Infinity—meaning the balance will never shrink.

Formula

n = [ln(PMT) − ln(PMT − balance × r)] / ln(1 + r)
Total interest = PMT × n − balance
Where r = APR / 12

When to use it

Planning a debt snowball/avalanche strategy with fixed payments.
Seeing how extra monthly payments shorten payoff time and reduce interest.
Testing balance transfer scenarios with lower promo APRs.

Tips & cautions

Pay more than the minimum to avoid long payoff timelines and high interest.
Freeze spending during payoff—new charges extend the timeline.
If payment is near interest-only, increase it to avoid negative amortization.
Assumes fixed payment and APR with no new charges or fees.
Payment must exceed monthly interest or payoff is impossible (Infinity result).
Does not model variable minimum payments or promo period expirations.

Worked examples

$4,500 balance at 19.99% APR with $300 payments

Payoff ≈ 17.6 months
Interest ≈ $775

Increase payment to $400

Payoff ≈ 13.2 months
Interest drops to ≈ $565

Deep dive

This credit card payoff calculator shows how many months it takes to clear your balance and how much interest you’ll pay. Enter balance, APR, and monthly payment to get a payoff timeline and interest total.

Use it to plan aggressive paydowns or compare extra payments and balance-transfer rates. It assumes no new charges and a payment above the interest-only level.

FAQs

What if I only make the minimum payment?: Enter your minimum payment amount to see how long payoff will take. If Infinity appears, raise the payment until the balance can drop.
Does this include new charges?: No. Avoid new purchases to stick to the payoff timeline; otherwise, rerun the calculator with the updated balance.
Why do I see Infinity or an error?: If PMT ≤ monthly interest, the balance can’t shrink. Increase the payment above interest to get a payoff timeline.
Can I include balance transfer fees?: Add the fee to your balance and use the promo APR to see the updated payoff duration.
Does this include annual fees or penalty rates?: No. Add fees to the balance or increase payment to offset them; penalty APRs aren’t modeled.

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