Debt Payoff Calculator
See how long it takes to pay off a credit card or loan balance. Enter your balance and APR, then either type a monthly payment to find the payoff time, or a target number of months to find the payment you'd need. Results update as you type.
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How to use the debt payoff calculator
Start by entering your balance owed and the APR — the annual interest rate on the card or loan. Then pick a mode at the top:
By monthly payment. Type the fixed amount you can pay each month. The big number shows how long it takes to clear the balance, and below it you'll see the exact number of months, the estimated payoff date, the total interest, and the total amount you'll have paid.
By target months. Type how many months you'd like to take to be debt-free. The calculator works out the fixed monthly payment that clears the balance in exactly that time, plus the total interest.
When a payment is too small. Credit card interest builds up every month. If your payment is smaller than that monthly interest, none of it goes toward the balance, so the debt never shrinks — and can even grow. The calculator spots this and tells you the minimum you'd need to pay above to actually make progress.
Everything runs in your browser — the numbers you type are never uploaded. This is a simplified estimate that assumes a fixed rate and no new charges or fees; it is not financial advice.
Common debt payoff questions
Does paying more than the minimum help? A lot. Card minimum payments are often only slightly above the monthly interest, so most of the payment is interest and the balance falls very slowly. Even a small increase to the monthly payment can cut years and a large amount of interest off the payoff.
What APR should I use? Use the purchase APR shown on your statement — that's the yearly interest rate. The calculator converts it to a monthly rate internally (APR ÷ 12).
Does this account for new purchases or fees? No. It assumes you stop adding to the balance and that the rate stays fixed. New charges, late fees, or a changing rate will make the real payoff take longer.
What's the difference between this and a loan calculator? The math is the same amortization. This tool is framed around an existing balance you're paying down, with the added warning for payments too small to ever clear the debt.
Should I pay off the highest-interest debt or the smallest balance first? Two popular strategies exist. The avalanche method targets the highest-APR debt first and saves the most interest overall. The snowball method clears the smallest balance first for a quick win that keeps you motivated. Run each of your debts through this calculator to see the interest difference, then pick the approach you'll actually stick with.
Does a balance transfer or lower APR really help? Yes, often dramatically. Because most of a credit card payment can go to interest, dropping the APR — through a balance-transfer offer or a lower-rate loan — sends more of each payment to the balance. Enter the new rate here to see how many months and how much interest it could save, but factor in any transfer fee.
How is the payoff date calculated? The calculator applies your monthly interest to the balance, subtracts your payment, and repeats month by month until the balance reaches zero. It then counts that many months forward from today to show the estimated payoff date. Changing the payment or APR updates the date instantly.