How long until your credit card balance is gone?
Enter a revolving credit card balance, the annual purchase APR from your statement, and the fixed amount you plan to pay monthly. Compare your plan with an extra payment and see a month-by-month payoff schedule.
Total starting debt
Example: a $5,000 outstanding balance at 24% nominal APR and $200 monthly payment. Add $50 a month to compare how much sooner it may be paid and the interest difference; the APR is an illustrative input, not a current credit card rate.
Monthly repayment schedule
Current plan
Estimated months to pay off
36 monthsWith extra payment
Estimated months to pay off
26 monthsFirst 12 months and final payment
One opening balance and a fixed monthly payment, not a bank quote · Illustration using a constant nominal APR divided by 12 on the opening balance, with one payment at each month end. US card issuers often use average daily balance and daily periodic rates. Does NOT model the legal minimum due, daily transaction dates, grace periods, new spending, fees, promotional APRs, different APR buckets or lender-required payment allocation. If your payment does not cover interest, the calculator refuses to invent a payoff date.
| Months | Interest for the month | Amount paid this month | Outstanding balance |
|---|---|---|---|
| 1 | $100.00 | $200.00 | $4,900.00 |
| 2 | $98.00 | $200.00 | $4,798.00 |
| 3 | $95.96 | $200.00 | $4,693.96 |
| 4 | $93.88 | $200.00 | $4,587.84 |
| 5 | $91.76 | $200.00 | $4,479.60 |
| 6 | $89.59 | $200.00 | $4,369.19 |
| 7 | $87.38 | $200.00 | $4,256.57 |
| 8 | $85.13 | $200.00 | $4,141.70 |
| 9 | $82.83 | $200.00 | $4,024.54 |
| 10 | $80.49 | $200.00 | $3,905.03 |
| 11 | $78.10 | $200.00 | $3,783.13 |
| 12 | $75.66 | $200.00 | $3,658.79 |
| 36 | $0.01 | $0.56 | $0.00 |
How long until your credit card balance is gone?
- 01
Find the existing balance and applicable APR on your card statement. If you have purchase, cash-advance and balance-transfer rates, this calculator models only one of those balances at a time.
- 02
Enter a FIXED monthly payment you can afford. This is not necessarily the card issuer's contractual minimum payment, which can change as the balance falls.
- 03
Enter an additional monthly amount to compare the accelerated payoff date and total interest. The simulation assumes no new purchases, fee charges, missed payments or promotional rate changes.
- 04
Review the month-by-month schedule and compare against your actual statement. US issuers commonly use daily-balance interest, so real charges can differ from this monthly APR/12 illustration.
Where this projection differs from a statement
Illustration using a constant nominal APR divided by 12 on the opening balance, with one payment at each month end. US card issuers often use average daily balance and daily periodic rates. Does NOT model the legal minimum due, daily transaction dates, grace periods, new spending, fees, promotional APRs, different APR buckets or lender-required payment allocation. If your payment does not cover interest, the calculator refuses to invent a payoff date.
Frequently asked questions
Does this calculate my actual statement interest?
Not exactly. US issuers commonly charge interest using daily average balances, different APR categories, billing dates and grace periods. Use your actual card agreement and statements for a precise figure.
Is my monthly payment the legal minimum due?
No. Enter your planned fixed payment. Each issuer sets its minimum payment according to its agreement and applicable law.
Should I keep using the card while paying down the balance?
Additional spending or fees change the payoff schedule. This mathematical scenario assumes no new charges.
Official consumer guidance
Illustration using a constant nominal APR divided by 12 on the opening balance, with one payment at each month end. US card issuers often use average daily balance and daily periodic rates. Does NOT model the legal minimum due, daily transaction dates, grace periods, new spending, fees, promotional APRs, different APR buckets or lender-required payment allocation. If your payment does not cover interest, the calculator refuses to invent a payoff date.