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PlanetToolbox

Credit Card Payoff Calculator

Estimate how long it will take to pay off a credit card balance and how much interest you may pay.

Payoff time

26 months

Interest paid

$1,542

Total paid

$7,542

Last balance

$0

Credit card inputs

Estimate payoff time and interest

Payoff summary

Months to payoff
26
Total interest
$1,542
Total paid
$7,542
Payments simulated
26

Early payoff schedule

Month 1Balance $5,810; interest $110
Month 2Balance $5,616; interest $106
Month 3Balance $5,419; interest $103
Month 4Balance $5,219; interest $99
Month 5Balance $5,014; interest $96
Month 6Balance $4,806; interest $92
Month 7Balance $4,594; interest $88
Month 8Balance $4,378; interest $84
Month 9Balance $4,159; interest $80
Month 10Balance $3,935; interest $76
Month 11Balance $3,707; interest $72
Month 12Balance $3,475; interest $68

Result actions

Next steps

Debt payoff planCompare snowball and avalanche payoff order across multiple balances.Personal loanEstimate whether consolidating to an installment loan changes total interest.Budget calculatorCheck monthly cash flow before choosing a payoff amount.

Credit card payoff assumptions

Interest is estimated monthly from the APR and balance you enter. If you add new charges each month, the calculator checks whether the payment is high enough to reduce the balance.