Calculator · October 2026
Credit card payoff calculator
Enter your balance, APR and monthly payment to see when you’ll be debt-free, how much interest you’ll pay, and whether a 0% balance transfer card would save you money.
Your balance
How this works. Interest is charged monthly at APR ÷ 12 on the balance after each payment, with no new purchases. Minimum payments use the rule you pick with a $35 floor (or the full balance if it is smaller); “1% + interest” is the formula most large issuers state in their cardmember agreements. Balance transfer options use each card’s stated intro months and transfer fee from our data (the percentage, or the stated dollar minimum if higher); after the intro period ends, any balance left is charged the low end of the card’s stated ongoing APR, or your current APR if none is stated. Late fees, penalty APRs and promotional purchase rates are not modelled.
Estimates for comparison, not financial advice. Offers, fees, rates and APRs are shown as stored in our database and can change at any time; confirm current terms on the issuer’s site before you apply. Partner links, where they exist, never change the results. Affiliate disclosure.
Related tools and guides
- Balance transfer cards Every 0% balance transfer card ranked by intro length and fee.
- How much a balance transfer saves A worked example with the fee and interest math.
- Longest 0% APR cards Cards with the longest intro periods right now.
Frequently asked questions
How long will it take to pay off my credit card with minimum payments?
Usually many years. Most issuers set the minimum at about 1% of the balance plus that month’s interest, so the balance falls slowly; on a $5,000 balance at 25% APR that takes well over a decade. Enter your own numbers above to see your timeline.
How is credit card interest calculated?
Issuers divide the APR by 365 for a daily rate and charge it on your average daily balance. This calculator uses the APR divided by 12 each month, which comes within a few dollars of the daily method for a balance you are paying down.
Is a balance transfer worth it?
Often, if you can pay off most of the balance during the 0% period. You pay a one-time fee, usually 3% to 5%, instead of monthly interest. The table above compares that fee and any interest after the intro period with staying on your current card.
What payment do I need to be debt-free in a year?
The table shows the monthly payment needed to clear your balance in 12, 24 or 36 months at your APR, with the interest you would pay on each plan.