What is the Credit Card Payoff Calculator?
Enter your balance, annual interest rate (APR) and what you pay each month – either the minimum (a % of the balance with a floor) or a fixed amount. The tool simulates month by month and shows how many months it will take, the total interest and how much you save by paying more.
How to use the Credit Card Payoff Calculator
- Enter balance and APR.
- Enter minimum payment % and floor, and your fixed payment.
- Compare the payoff time and interest.
Why is minimum payment so costly?
Most of it goes to interest, so the balance shrinks very slowly and payoff can take years.
This Credit Card Payoff Calculator is 100% free, needs no signup and runs privately in your browser – on phone, tablet or computer.
Last updated: · By NodifyTech