Credit Card Payoff Calculator
Enter each card's balance, APR and minimum payment, then the extra you can pay each month. The calculator shows when the cards are paid off, how much interest you pay getting there, and the full month-by-month schedule. With more than one card, it also shows the cheapest order to clear them (highest APR first) beside the fastest first win (smallest balance first).
Why minimum payments take so long
A card's minimum is usually a small percentage of the balance plus that month's interest, or a floor amount — so most of a minimum payment is interest and only a little reaches the principal. The dashed line on the chart shows the minimums-only path. Because minimums shrink with the balance, a plan that pays only the minimum stretches out for years; a fixed payment that stays the same every month, which is what this calculator models, is dramatically shorter. The schedule under the chart shows exactly how much of each payment is interest.
A note on how card interest is charged
Most issuers compute interest daily on the average daily balance and post it at the end of the cycle. This calculator charges once a month at APR ÷ 12 on the current balance, which is the standard simplification and keeps the schedule readable; the figures land very close to a statement but will not match it to the cent. Promotional 0% balances accrue nothing until the promotion ends — enter the ongoing rate if you want a conservative plan.
When the minimum is below the interest
A card whose minimum does not even cover the month's interest grows every month. The calculator flags that card in the list and, if nothing in the plan can reach it, says the plan never clears rather than drawing a date. Any extra amount on top of the minimums usually fixes it; the page shows you how much.
Frequently asked questions
How long will it take to pay off my credit card?
Enter the balance, the APR from your statement and the amount you will pay each month. The calculator charges interest monthly, applies the payment and shows the month the balance reaches zero, plus the total interest paid. Paying a fixed amount rather than the shrinking minimum is what shortens it most.
Can I enter more than one credit card?
Yes, as many as you have, and loans too. The calculator then shows two orders: highest APR first (the avalanche, least interest) and smallest balance first (the snowball, earliest payoff), with the payoff month for each card under each order.
Where do I find my APR and minimum payment?
Both are on your monthly statement. The APR is listed in the interest-charge section (use the purchase APR; cash-advance balances carry their own). The minimum payment due is shown at the top of the statement.
Does paying extra on a credit card save interest?
Yes. Interest is charged on the balance, so every dollar of extra payment reduces the balance that is charged next month and every month after. The calculator shows the saving against minimums only in dollars and months.
Is this financial advice?
No. It is arithmetic on the numbers you enter. It does not know your situation and does not recommend cards, loans or consolidation. Speak with a qualified professional or a non-profit credit counsellor for advice.
Keep the plan going in Debt Ladder
Debt Ladder is the app behind this calculator. It uses the same payoff engine, then keeps the plan alive: a monthly check-in to log what you actually paid, extra payments on any day for any amount, and a debt-free date that moves as you go. Private and on your phone — no account, no bank linking, no ads. Scan the QR code above to carry this plan into the app.