Credit Card Payoff Calculator
See how long a credit card balance will take to clear — and what the interest really costs. Enter the balance, APR, and what you pay each month.
Short answer: at the U.S. average credit card APR of 21.52%, a $5,000 balance clears in 25 months (2 yr 1 mo) if you pay $250 a month, costing $1,248 in interest. Drop to $100 a month and the same balance takes 10 yr 8 mo and costs $7,770 in interest — more than the balance itself. Any payment at or below one month’s interest never clears the card at all.
Average APR: Federal Reserve G.19, Q1 2026 (accounts assessed interest). Figures from the calculator below.
Add cards below and we’ll combine them into one avalanche payoff plan.
Balance until paid off
How you compare
The average card APR over time
Average APR across all U.S. credit-card accounts — annual averages since 1995.
Federal Reserve G.19, all credit-card accounts; 2026 point is Q1 2026.
Month-by-month payoff schedule
Every payment until the balance reaches zero.
💳 See 0% balance-transfer card offers
Check it outWhy minimum payments hurt
At high APRs, a large chunk of each payment goes to interest, so low payments stretch a balance out for years and can more than double what you repay. Raising the monthly payment even modestly shortens the timeline dramatically — try nudging it up to see the effect.
How it’s calculated
Each month, interest = balance × monthly rate is added, then your payment is subtracted, repeating until the balance reaches zero.
Switch Calculate to “I want to pay it off by a certain date” to flip the math around: enter the number of months you want to be debt-free in, and we solve the standard amortization-payment formula for the fixed monthly payment required — payment = balance × monthly rate ÷ (1 − (1 + monthly rate)−months) — then feed that payment through the same schedule, interest and total-paid calculations as the fixed-payment mode. Only paying the minimum instead of a fixed amount? The credit-card minimum payment calculator models a shrinking minimum-payment formula separately.
Multiple cards: click “Add another card” (up to 5) to enter each card’s balance, APR, and minimum payment, plus one combined monthly budget. We simulate month by month using the debt avalanche method — the same approach calculator.net’s multi-card payoff tool defaults to: every card’s minimum payment is covered first, then whatever budget is left over each month goes entirely toward the balance with the highest APR, re-ranking as cards get paid off, until every balance hits zero. This minimizes total interest versus paying cards down in any other order; the debt-snowball order (smallest balance first) can be modeled by adjusting which card you prioritize for extra payments, though this calculator’s automatic ordering is avalanche-only.
Results update as you type and are estimates, not professional advice — verify important decisions with a qualified professional.
Payoff schedule by year
At your current payment; charging nothing new.
Common mistakes
- Paying at or below the monthly interest, so the balance never drops.
- Adding new charges while paying it off.
How long will it take to pay off a credit card?
It depends on three things: the balance, the APR, and how much you pay each month. At the U.S. average APR of 21.52%, paying $250 a month:
| Balance | Payments | Time | Total interest | Total paid |
|---|---|---|---|---|
| $1,000 | 5 | 5 mo | $47 | $1,047 |
| $2,500 | 12 | 1 yr 0 mo | $280 | $2,780 |
| $5,000 | 25 | 2 yr 1 mo | $1,248 | $6,248 |
| $7,500 | 44 | 3 yr 8 mo | $3,362 | $10,862 |
| $10,000 | 72 | 6 yr 0 mo | $7,771 | $17,771 |
| $15,000 | Never — $250 is below the first month’s interest of $269, so the balance grows | |||
A $15,000 balance at 21.52% accrues about $269.00 of interest in the first month. A $250 payment never catches it, so the balance grows forever. This is the single most common payoff mistake.
The same $5,000 balance, by monthly payment
| You pay | Payments | Time | Total interest | Total paid |
|---|---|---|---|---|
| $75 / mo | Never — below the first month’s interest of $89.67 | |||
| $100 / mo | 128 | 10 yr 8 mo | $7,770 | $12,770 |
| $150 / mo | 52 | 4 yr 4 mo | $2,686 | $7,686 |
| $200 / mo | 34 | 2 yr 10 mo | $1,693 | $6,693 |
| $250 / mo | 25 | 2 yr 1 mo | $1,248 | $6,248 |
| $300 / mo | 20 | 1 yr 8 mo | $993 | $5,993 |
| $500 / mo | 12 | 1 yr 0 mo | $560 | $5,560 |
Doubling $100 to $200 a month cuts payoff from 10 yr 8 mo to 2 yr 10 mo and saves $6,077 in interest. Every figure here is produced by the same month-by-month engine as the calculator above: interest is added each month, then your payment is applied. Rounded to the nearest dollar. Assumes no new charges and a fixed APR.
Frequently asked questions
How long does it take to pay off a credit card?
At the U.S. average APR of 21.52%, a $5,000 balance paid at $250 a month clears in 25 months (2 yr 1 mo) with $1,248 of interest. At $100 a month the same balance takes 10 yr 8 mo and costs $7,770 in interest. A $10,000 balance at $250 a month takes 6 yr 0 mo and costs $7,771. If your payment is at or below one month's interest, the balance never clears.
Which credit card should I pay off first?
To pay the least interest, pay the card with the highest APR first while making minimum payments on the rest — the avalanche method. To build momentum, pay the smallest balance first — the snowball method. Avalanche always costs less in total interest; snowball clears individual cards sooner. This calculator uses avalanche order when you enter more than one card.
Is it bad to pay off a credit card early?
No. Credit cards have no prepayment penalty, so paying early or paying more than the minimum only reduces the interest you owe. Interest is charged on the balance you carry, so a smaller balance for fewer months always costs less. Keeping the account open after payoff generally helps your credit utilization and average account age.
Why won't my balance go down?
If your payment is at or below the monthly interest, the balance never shrinks. The calculator flags this so you can raise the payment.
Does this assume new charges?
No — it assumes you stop adding to the card. New purchases extend the payoff.
Would a balance transfer help?
Often yes. Moving to a 0% intro-APR card can cut interest sharply — factor in any transfer fee.
Why does paying only the minimum take so long?
Minimums are usually ~1–2% of the balance plus interest, designed to barely outrun the ~21.5% average APR (Fed G.19). Early on, most of each minimum payment is interest, so the principal barely moves — fixed payments above the minimum cut years off.
Avalanche or snowball — which payoff method is better?
Avalanche (highest APR first) is mathematically cheapest. Snowball (smallest balance first) wins on motivation because you clear accounts sooner. The best method is the one you'll stick with — the interest difference is often smaller than people expect.
How do I find the payment needed to pay off my card by a certain date?
Switch the Calculate dropdown to “I want to pay it off by a certain date,” enter your target number of months, and the calculator solves for the fixed monthly payment required — the same amortization math lenders use to size a loan payment.
What's the difference between this and the minimum-payment calculator?
This page assumes a fixed payment you choose (or one solved for a target date). The minimum payment calculator instead models the shrinking minimum many issuers actually charge — the greater of a small flat fee or a percentage of the balance — which drags payoff out far longer.
Can I add more than one credit card?
Yes — click “Add another card” under the inputs (up to 5 cards). Enter each card’s balance, APR, and minimum payment plus one combined monthly budget, and the calculator pays every minimum first, then throws the rest at the highest-APR card (debt avalanche) until all balances hit zero.