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Credit card payoff calculator

As of Oct. 13, 2026

Type your card balance, interest rate, and monthly payment. You'll see how many months until it's paid off and how much interest you'd pay, with the math shown. Or pick a goal, like 24 months, and see the payment needed.

Step 1: type your card's numbers

Find your balance and purchase APR on your monthly statement.

Balance you owe ($) Interest rate, APR (%) What you'll pay each month ($)

Step 2 (optional): pick a goal

How many months do you want it gone in? We'll show the monthly payment needed.

Pay it off in (months)

Not financial advice. This calculator only does arithmetic on the numbers you type. Your card company's real numbers can differ (daily interest, new purchases, fees, promotional rates). Your monthly statement shows your own minimum-payment payoff estimate. Call the number on the back of your card to confirm your balance and APR.

Calculator
Worked example
Plain facts
The formulas
Limits

22.36%Average APR on card accounts charged interest, August 2026 (Federal Reserve G.19 (Aug. 2026))

21.19%Average APR across all card accounts, August 2026 (Federal Reserve G.19 (Aug. 2026))

DailyMany card companies figure interest daily on your average daily balance (CFPB: how card interest is calculated)

21 daysBills must be mailed or delivered at least 21 days before the due date (CFPB: grace period)

Worked example: $5,000 at 22.36% APR

22.36% is the Federal Reserve's average interest rate on credit card accounts that were charged interest, August 2026 (Federal Reserve G.19 (Aug. 2026)). It is an average, not your rate.

Monthly payment	Months to pay off	Total interest	Total paid
$150.00	53 months (about 4.4 years)	$2,885.58	$7,885.58
$200.00	34 months (about 2.8 years)	$1,792.98	$6,792.98
$300.00	21 months (about 1.8 years)	$1,043.11	$6,043.11
$500.00	12 months (about 1.0 years)	$585.27	$5,585.27

To pay it off in exactly 36 months, the payment would be about $191.88 a month (formula below).

Assumes no new purchases or fees, and interest of APR ÷ 12 on the balance each month. Rounded to the cent each month.

Plain facts about card interest

Interest is often daily. CFPB: many card companies calculate interest daily based on your average daily balance; the daily rate is called the daily periodic rate. So paying sooner can mean less interest (CFPB: how card interest is calculated).
Paying in full can mean no interest on purchases. If your card has a grace period and you pay the full balance by the due date, you can avoid interest on new purchases. Card companies are not required to offer a grace period, but most do on purchases. Cash advances usually start charging interest right away (CFPB: grace period).
Losing the grace period. CFPB: if you pay in full some months and not others, you may lose the grace period for the month you don't pay in full and the month after (CFPB: grace period).
Extra money goes to the highest rate first. When you pay more than the minimum, the card company generally must apply the extra to the balance with the highest interest rate first (CFPB: how card interest is calculated).
Your statement has a payoff warning. Federal rules (Regulation Z §1026.7(b)(12)) require most card statements to show a bold "Minimum Payment Warning", how long it would take to pay off the balance making only minimum payments, the total cost, and a toll-free number for credit counseling information. Many statements also show the monthly payment to pay it off in 36 months (Regulation Z §1026.7(b)(12)).

The formulas (nothing hidden)

Monthly rate r = APR ÷ 12. Example: 22.36% ÷ 12 = 1.8633% a month.
Each month: interest = balance × r (rounded to the cent); new balance = balance + interest − payment. Months are counted until the balance reaches $0; the last payment is only what's left.
Never pays off if the payment is not more than the first month's interest (balance × r).
Payment to finish in N months: P = B × r ÷ (1 − (1 + r)^−N). If APR is 0%, P = B ÷ N.

This uses monthly interest (APR ÷ 12) to keep the math easy to check by hand. Card companies that charge daily interest on an average daily balance can come out slightly different.

What this calculator does not do

It does not know your card company's minimum-payment formula, which differs by company. Use the payoff estimate printed on your statement for that.
It ignores new purchases, late fees, annual fees, penalty APRs, and promotional (0%) rates ending.
It handles one card at a time. For several debts, use the debt payoff calculator (avalanche vs snowball).
It does not tell you how much to pay or which debt to pay first. It shows the arithmetic.

Sources & as-of dates

Consumer Credit - G.19, Terms of Credit: commercial bank credit card plans (Board of Governors of the Federal Reserve System) (Release date October 7, 2026; data for August 2026 (checked 2026-10-13))
Commercial Bank Interest Rate on Credit Card Plans, Accounts Assessed Interest (FRED series TERMCBCCINTNS, from G.19) (Latest observation 2026-08-01: 22.36% (checked 2026-10-13))
How does my credit card company calculate the amount of interest I owe? (CFPB Ask CFPB) (Last reviewed Jan. 22, 2024 (checked 2026-10-13))
What is a grace period for a credit card? (CFPB Ask CFPB) (Last reviewed Sep. 23, 2024 (checked 2026-10-13))
12 CFR 1026.7(b)(12) Repayment disclosures (Regulation Z, as published by CFPB) (Current regulation text (checked 2026-10-13))

Next step: if your rate is high, see how a 0% intro balance transfer card compares: balance transfer cards compared · several debts? avalanche vs snowball · personal loan APRs · credit hub

FAQ

How long will it take to pay off my credit card?

It depends on your balance, APR and payment. Example: $5,000 at 22.36% APR (the Federal Reserve's August 2026 average for accounts charged interest) paying $200 a month takes 34 months and about $1,792.98 in interest, assuming no new purchases. Type your own numbers into the calculator.

How is the payoff calculated?

Monthly rate r = APR ÷ 12. Each month interest = balance × r, then the payment is subtracted, until the balance reaches $0. The payment to finish in N months is B × r ÷ (1 − (1 + r)^−N). The formulas are shown on the page.

What is the average credit card interest rate?

The Federal Reserve's G.19 release (Oct. 7, 2026) shows 22.36% for card accounts that were assessed interest and 21.19% for all card accounts, August 2026, at commercial banks.

Where do I find my minimum payment payoff time?

Federal Regulation Z (12 CFR 1026.7(b)(12)) requires most card statements to show a Minimum Payment Warning with how long paying only the minimum would take and the total cost, plus a toll-free number for credit counseling information.

Is this financial advice?

No. It is arithmetic on numbers you type plus dated facts from the Federal Reserve and CFPB. It does not tell you how much to pay.

Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.