A familiar situation
A card balance can linger when monthly payments barely exceed interest. Enter the balance, APR and payment to estimate payoff time, assuming you stop adding purchases and the rate stays fixed.
How to use this calculator
- Enter current balance, annual interest / apr, monthly payment.
- Select Calculate to see the answer and its breakdown.
- Keep a scenario, change an input and compare the results.
Use consistent units and check the assumptions below before applying the result.
How credit card is calculated
The balance is charged interest each month before the fixed payment is applied. The estimate assumes no new purchases, rate changes or penalties during payoff. Formula: Monthly balance update adds APR/12 interest, then subtracts the fixed payment. Use the displayed details to inspect the intermediate amounts and replace example assumptions with terms from your own quote or records.
Monthly balance update adds APR/12 interest, then subtracts the fixed payment.A $5,000 balance at 18% APR paid at $200 per month takes about 32 months.
Assumptions & useful context
Assumes no new charges, fees or rate changes.
Financial projections use your assumptions. Actual returns, lender terms, fees and tax rules can differ; these results do not guarantee a future outcome.
Frequently asked questions
Credit Card Calculator: what does the result include?
A payment must exceed the first month’s interest for the balance to decline. The calculator reports an error when the entered amount cannot amortize the debt.
Credit Card Calculator: which assumptions matter most?
No. The calculation assumes the balance receives no new charges and that the APR remains constant.