Estimate payoff time and interest from your balance, APR and fixed monthly payment.
Assumes a fixed APR, monthly interest, a fixed payment and no new purchases, fees or rate changes.
The calculator applies one month of interest to the remaining balance, subtracts the fixed payment and repeats until the balance reaches zero. Because real cards often calculate interest daily, the result is a planning estimate rather than a statement payoff quote.
Use this calculator for a card balance when you want a fixed-payment planning estimate. Use the Debt Payoff Calculator for another fixed balance with a stable APR. Actual card statements can differ because issuers may calculate interest daily and may apply fees, new purchases or rate changes.
For card terms and how interest can be calculated, see the Consumer Financial Protection Bureau's credit card guidance.
Higher payments reduce principal sooner. That lowers future interest because less balance remains exposed to the card’s APR in later months.
No. It assumes the same payment amount every month. Many card issuers calculate minimum payments using their own rules, so a declining minimum-payment schedule would produce a different result.
No. New charges, annual fees, late fees and rate changes are excluded.
If the payment is no larger than the interest added each month, principal does not decline and the balance cannot reach zero in this model.