Calculation method
Monthly interest is estimated as balance × APR ÷ 12, followed by a fixed payment. The final payment is limited to the amount owed.
Debt · General formulas
Credit Card Payoff Calculator
Estimate payoff time and interest for a fixed monthly payment. Use the example values or enter your own numbers to explore an estimate.
Currency formatting only—not an exchange-rate conversion. No country-specific tax or government rules are applied.
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Enter your details to see a personalized calculation, a simple projection, and the assumptions behind it.
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The PDF includes active input values and option labels, results, sources, model assumptions, and the schedule when available. Schedule periods follow the model: years, months, or actual payments.
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Share assumptions, never dollar amounts
Links include eligible rate, term or frequency assumptions only. Dollar amounts are never included. Recipients must enter their own amounts; the link will not reproduce your full financial scenario.
Assumptions & limits
- No new purchases, fees, or changing APR.
- Actual card interest may use daily balance methods.
- Basis: User-entered values.
- Basis: Standard fixed-payment and time-value-of-money formulas.
Source/rule review year: Not applicable — general mathematical model.
CARD PAYOFF WORKED EXAMPLE
A fixed payment, month by month.
For a fictional $6,200 card balance at 21.9% APR and a fixed $260 monthly payment, the calculator applies APR ÷ 12, adds interest, then makes each payment at month-end.
| Part | Item | Value |
|---|---|---|
| Input | Card balance | USD 6,200.00 |
| Input | Annual percentage rate | 21.9 % |
| Input | Monthly payment | USD 260.00 |
| Result | Estimated payoff time | 2 yr 8 mo |
| Result | Total interest | US$2,013.25 |
| Result | Total paid | US$8,213.25 |
| Result | Monthly payment | US$260.00 |
How to interpret it
The final payment is capped at what remains due. The payoff estimate assumes no new purchases and an unchanged APR and payment throughout the schedule.
Limits of this example
- Card issuers may accrue interest daily, change rates, apply fees, or calculate minimums differently.
- This is not a payoff quote and does not model transfer offers or creditor-specific terms.
Possible next steps
READ THE METHOD
How debt payoff estimates work Want the mechanics before comparing scenarios?