Free financial calculator
Credit Card Payoff Calculator
Estimate credit-card payoff time, total interest and total repayments.
Use the calculator ↓Adjust the assumptions
Credit Card Payoff Calculator
Estimate credit-card payoff time, total interest and total repayments.
Result
£0
View year-by-year breakdown ＋
| Year | Contributions | Growth | Balance |
|---|
Questions answered
What this calculator helps you work out
- How long could it take to pay off my credit card?
- How much interest might I pay?
- Is my planned monthly payment enough to reduce the balance?
Common questions
Credit Card Payoff Calculator FAQs
Why does paying only a small amount take so long?＋
When a large share of the payment goes to interest, relatively little reduces the principal balance.
Can I include new card spending?＋
No. The calculation assumes no further purchases or cash advances.
Is APR divided by twelve exactly how every card works?＋
No. Issuers may calculate interest daily and apply fees, so statements can differ slightly.
Go beyond the result
Why Credit Card Minimum Payments Cost So Much
See a worked example, the trade-offs to consider and the assumptions that can change the answer.