Credit Card Payoff Calculator
Find out how long it really takes to clear a credit card balance and how much interest you'll pay getting there. Enter your balance, the card's APR and a payoff term — then add an extra amount to see how much faster and cheaper you finish.
How to use it
Enter your current card balance, the card's APR, and the number of years you want to take to pay it off. The calculator turns that into a fixed monthly payment, the total interest, and a month-by-month schedule showing the balance falling to zero.
Credit card APRs are high, so time is expensive — paying off the same balance over five years instead of two can more than double the interest. Add even a small extra monthly payment to see how quickly the payoff date and total interest drop.
Frequently asked questions
Why is paying only the minimum so costly?
Minimum payments are set low — often near the monthly interest — so very little goes to principal. That stretches payoff over many years and piles up interest. Entering a fixed payoff term here shows the payment needed to actually finish.
What APR should I use?
Use your card's purchase APR, shown on your statement. If you carry a promotional 0% balance, enter the rate that applies after it ends, since that's when interest starts accruing.
How much does an extra payment help?
A lot, because of the high rate. Add an extra amount in the calculator and watch both the payoff time and total interest fall — even $50 a month often saves months and hundreds of dollars.
BriskToolbox provides estimates for general information only and is not financial advice.