Credit Card Payoff Calculator
Estimate payoff time and total interest for your credit card balance
Credit Card Payoff Calculator
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Eliminating Credit Card Debt
Credit cards are convenient but high interest rates can cause balances to linger for years. Understanding how long repayment will take helps you plan your finances and avoid costly interest.
By paying more than the minimum each month, you can dramatically reduce payoff time and total interest paid. Even small additional payments make a big difference over time.
Our calculator shows the months to debt freedom, total interest, and total amount paid so you can build an effective payoff strategy.
Frequently Asked Questions
Payoff time is calculated by applying your payment each month after adding interest charges. The calculation repeats until the balance reaches zero.
If your monthly payment doesn't cover interest charges, the balance will grow and the debt can never be paid off. Increase your payment to reduce the principal.
Make payments above the minimum, cut unnecessary spending, and consider consolidating balances to a lower interest loan.