APR (Annual Percentage Rate) is the yearly interest rate charged on your balance. Divide by 12 for the monthly rate. Average US credit card APR is approximately 20–24%.

How much does paying extra save?

Paying $50–100 more per month can save thousands in interest and cut years off your payoff timeline. Even small extra payments have a significant compounding effect.

What is the avalanche vs snowball method?

Avalanche: pay minimums on all cards, put extra money on the highest-APR card (saves most interest). Snowball: pay the smallest balance first (psychologically motivating).

Credit Card Payoff Calculator

The Credit Card Payoff Calculator tells you exactly how many months it will take to become debt-free given your current balance, interest rate (APR), and monthly payment. Making only the minimum payment on credit card debt can keep you in debt for years or even decades. This tool shows you the real timeline — and motivates you to pay more each month.

Current Balance($)

Annual Interest Rate (APR)(%)

Monthly Payment($)

How to Use This Calculator

1
Enter your current credit card balance.
2
Enter the annual interest rate (APR) — found on your statement.
3
Enter how much you plan to pay each month.
4
Click Calculate to see how many months until you are debt-free.

Frequently Asked Questions

If your monthly payment is less than or equal to the monthly interest charge, you will never pay off the debt. You must pay more than the interest each month to reduce the balance.

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