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Credit Card Payoff Calculator
See how long to pay off a credit card and total interest. Compare minimum-only vs extra payment and model intro 0% APR transfers.
FINANCESee exactly how long it takes to pay off a credit card and how much interest you pay. Compares paying the minimum vs paying extra, and models intro 0% APR balance-transfer offers.
Credit card APRs compound daily. A 22% APR is roughly 0.06% per day on your average daily balance. Minimum payments (typically 2-3% of balance) are often less than the interest at high APRs, so the balance can grow if you pay only the minimum. A $5,000 balance at 22% with 2% minimum takes about 32 years to pay off; adding $100/month extra cuts payoff to about 4 years and saves over $9,000 in interest.
Disclaimer: Estimates assume fixed APR and no new charges. Many cards reduce the minimum payment as balance falls, extending payoff further.
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Frequently Asked Questions
What is the Credit Card Payoff Calculator for?
See exactly how long it takes to pay off a credit card and how much interest you pay. Compares paying the minimum vs paying extra, and models intro 0% APR balance-transfer offers.
How do I use the Credit Card Payoff Calculator?
Credit card APRs compound daily. A 22% APR is roughly 0.06% per day on your average daily balance. Minimum payments (typically 2-3% of balance) are often less than the interest at high APRs, so the balance can grow if you pay only the minimum. A $5,000 balance at 22% with 2% minimum takes about 32 years to pay off; adding $100/month extra cuts payoff to about 4 years and saves over $9,000 in interest.
How accurate are my credit card payoff results?
Estimates assume fixed APR and no new charges. Many cards reduce the minimum payment as balance falls, extending payoff further.
Is the Credit Card Payoff Calculator free to use?
Yes - every calculator on WhichCalc is completely free with no signup, no usage limits, and no tracking on the calculation itself. Results display instantly in your browser and your inputs are never sent to a server. Bookmark the page if you use this calculator regularly.
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