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Credit Card Payoff Calculator

Find out how many months it takes to pay off a credit card balance.

Inputs

%
%

Saved Scenarios

— select 2+ to compare

Months to Pay Off

33.7

Total Paid

$6,750

Spark says

How it's calculated

Formula

n=−ln⁡(1−BrP)ln⁡(1+r)n = \dfrac{-\ln\left(1 - \dfrac{Br}{P}\right)}{\ln(1+r)}
B
— Current balance
r
— Monthly interest rate
P
— Monthly payment

What is the Credit Card Payoff Calculator?

This calculator finds how many months it takes to pay off a credit card balance given a fixed monthly payment and interest rate, assuming no new charges.

How to use it

  1. 1 Enter your current balance.
  2. 2 Enter your card's APR.
  3. 3 Enter how much you plan to pay each month.

Worked examples

$5,000 at 22% APR, $200/month

Paid off in about 32 months.

Try it

Limitations

  • •Assumes no new purchases are added to the balance.
  • •Real payoff can vary with promotional rates or balance transfers.

Tips

  • 💡 Paying more than the minimum dramatically cuts both the payoff time and total interest paid.

Frequently asked questions

Why does a low payment sometimes mean the balance never gets paid off?

If your payment doesn't exceed the interest charged each month, the balance keeps growing instead of shrinking — you need to pay more than the monthly interest just to make progress.