Credit card payoff calculator
One balance, one APR, a date or a payment. The schedule stays on this device. For several debts, use the snowball vs avalanche calculator.
APR ÷ 12, interest then payment, same clock as the snowball tool
- Monthly payment
- $475.20
- Months
- 12
- Total interest
- $702.37
- Paid off
- September 2027
A fixed $475.20 a month pays $5,000.00 at 24.99% APR in 1 year. Total interest is $702.37, about 14% of the starting balance. The monthly clock is APR divided by 12, the same clock as the snowball and avalanche tool. Paying only an example minimum of $154.13 (one percent of the balance plus this month’s interest, or $25, whichever is larger) would take 55 months and $3,418.12 in interest on this same clock.
| Month | Payment | Interest | Remaining |
|---|---|---|---|
| October 2026 | $475.20 | $104.13 | $4,628.93 |
| November 2026 | $475.20 | $96.40 | $4,250.13 |
| December 2026 | $475.20 | $88.51 | $3,863.44 |
| January 2027 | $475.20 | $80.46 | $3,468.70 |
| February 2027 | $475.20 | $72.24 | $3,065.74 |
| March 2027 | $475.20 | $63.84 | $2,654.38 |
First payment October 2026 so the date does not drift with the day you load the page. A statement that uses APR ÷ 365 is a different clock. Nothing you type is sent.
Questions
How does this credit card payoff calculator work?
It charges interest once a month at APR divided by 12, then applies the payment, in whole cents. That is the same clock as the snowball and avalanche tool. Many card statements use APR divided by 365 instead.
Can I compare extra payments?
Use the months mode to see the payment that hits a date, or the payment mode to see how long a fixed amount takes. For several cards, use the debt payoff calculator.
Does this include the minimum payment formula on my card?
No. Card minimums differ by issuer. Use your statement minimum, or try a payment you can keep, and read the schedule this tool prints.
Educational reference only. Not financial advice. Daily-rate arithmetic is on how credit card interest is calculated.