$10,000 balance, $100/mo
Here’s the payoff timeline for a $10,000 balance at 22% APR, paying $100/month.
Different numbers? Use the full credit card payoff calculator above.
About this credit card payoff calculator
This calculator estimates how long it will take to pay off a credit card balance with a fixed monthly payment, and how much interest you'll pay along the way. It works by simulating your balance month by month: each month, interest accrues on your remaining balance at your card's annual percentage rate (APR) divided by 12, and then your payment is subtracted from that new, larger balance.
Credit card interest compounds this way — monthly, on whatever balance remains — which is why making only minimum payments on a high balance can take years and cost more in interest than the original purchase amount. Making a larger fixed payment each month, rather than a shrinking minimum payment, is one of the most effective ways to reduce both the payoff time and the total interest paid.
If your monthly payment is less than or equal to the interest charged on your current balance in the first month, your balance will never shrink — it will grow instead, since the interest added each month is larger than what you're paying down. This calculator flags that situation directly rather than showing a payoff date that will never actually arrive.
This calculator assumes a fixed APR and a fixed monthly payment with no new purchases added to the balance. Real credit cards may have variable APRs that change over time, promotional rates that expire, and minimum payment formulas that shrink as your balance drops — all of which can make an actual payoff timeline different from this estimate.
The results shown here are estimates for informational purposes only and are not financial advice. Actual interest charges, fees, and payoff timelines depend on your card issuer's specific terms — check your cardholder agreement or contact your issuer for exact figures.
Credit card payoff questions
How the payoff timeline and interest are calculated.
How is credit card interest calculated?
Most credit cards charge interest monthly, based on your annual percentage rate (APR) divided by 12, applied to your remaining balance. That interest is added to your balance before your next payment is applied.
Why does my balance barely go down even though I'm paying every month?
If your payment is only slightly more than the interest charged that month, most of your payment goes toward interest rather than the principal balance, so it shrinks very slowly. A higher fixed payment reduces the principal faster.
What happens if my payment is too low?
If your monthly payment doesn't even cover the interest charged on your current balance, the balance will grow instead of shrink, and it will never be paid off at that payment amount. This calculator flags that situation directly.
Why does paying more than the minimum matter so much?
Because interest compounds monthly on your remaining balance, even a modest increase in your fixed monthly payment can significantly cut both your total interest paid and the number of months it takes to reach $0.
Does this calculator account for new purchases?
No. This calculator assumes no new purchases are added to the balance and that you pay the same fixed amount every month until it's paid off.
Does my card's APR ever change?
It can. Many cards have variable APRs tied to an index rate, promotional 0% APR periods that expire, or penalty APRs triggered by late payments. This calculator assumes a constant APR for the entire payoff period.
Is paying off the highest-interest card first always best?
Mathematically, paying extra toward your highest-APR balance first (the "avalanche" method) usually minimizes total interest paid across multiple cards. Some people prefer paying off the smallest balance first (the "snowball" method) for psychological motivation instead.
Is this financial advice?
No. This calculator provides estimates for informational purposes only and is not financial advice. Check your cardholder agreement or contact your card issuer for your exact interest charges and terms.