Enter your balance, interest rate, and monthly payment. Get your payoff date, total interest cost, and a full month-by-month breakdown — instantly.
Enter the total amount you currently owe
Find this on your credit card statement or account dashboard
The amount you plan to pay each month
Results update automatically as you type
Enter your debt details on the left to see your personalized payoff plan.
Most people carrying credit card debt have no idea how long it will actually take to pay off — or how much they'll ultimately hand over to their lender in interest. The math is deliberately obscured. Your statement shows you a "minimum payment" that seems manageable, but that number is designed to keep you in debt as long as possible, maximizing the interest you pay over time.
This free debt payoff calculator fixes that. Enter three numbers — your current balance, your APR, and the monthly payment you can make — and you'll instantly see your debt-free date, your total interest cost, and a complete month-by-month breakdown of exactly where every dollar goes.
Step 1 — Enter your total balance. This is the current outstanding balance on your credit card or loan, not your credit limit. You can find it on your latest statement or by logging into your account.
Step 2 — Enter your APR. Your Annual Percentage Rate is the annualized interest rate your lender charges. It will appear on your statement, usually prominently. Credit card APRs in the United States currently average around 22–27% for accounts that carry a balance.
Step 3 — Enter your planned monthly payment. This is the amount you commit to paying every single month. Consistency is key — skipping months dramatically extends your payoff timeline. The higher above your minimum payment, the faster your debt disappears.
After you see your results, scroll down to the "What If I Paid More?" section and drag the slider. Even an extra $25–$50 per month often shaves years off your payoff timeline and saves hundreds or thousands in interest.
Months to payoff is the number of monthly payment cycles until your balance reaches zero. If this number shocks you, you're not alone — at typical credit card interest rates, a $5,000 balance with only the minimum payment can take over a decade to eliminate.
Total interest paid is the single most alarming number for most people. It represents money paid purely to your lender, above and beyond the original amount you borrowed. On a $10,000 balance at 24% APR paying $250/month, you'd pay over $5,000 in interest — 50 cents of pure profit for the bank for every dollar of actual debt.
The breakdown bar visually shows the ratio of principal to interest in your total payments. A bar that's mostly gold (interest) is a clear signal to find ways to pay more each month.
Credit card companies set minimum payments intentionally low — typically 1–2% of your balance or a flat amount like $25, whichever is greater. This keeps monthly payments "affordable," which means you stay a customer (and a debt payer) for far longer. On a $6,000 balance at 22% APR with a 2% minimum payment, paying only the minimum means it takes over 30 years to pay off and you'll pay more than $10,000 in interest — on a $6,000 debt.
This calculator shows you the true cost of that approach and gives you the information to make a different choice.