Credit card payoff calculator
Turn a card balance into a monthly payoff plan. Save it, return after your next statement, and update your numbers.
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Time to pay off
34 months
Estimated interest
$1,749.90
Total paid
$6,749.90
Monthly payoff schedule
| Month | Payment | Interest | Balance |
|---|---|---|---|
| 1 | $200.00 | $91.67 | $4,891.67 |
| 2 | $200.00 | $89.68 | $4,781.35 |
| 3 | $200.00 | $87.66 | $4,669.01 |
| 4 | $200.00 | $85.60 | $4,554.61 |
| 5 | $200.00 | $83.50 | $4,438.11 |
| 6 | $200.00 | $81.37 | $4,319.48 |
| 7 | $200.00 | $79.19 | $4,198.67 |
| 8 | $200.00 | $76.98 | $4,075.65 |
| 9 | $200.00 | $74.72 | $3,950.37 |
| 10 | $200.00 | $72.42 | $3,822.79 |
| 11 | $200.00 | $70.08 | $3,692.87 |
| 12 | $200.00 | $67.70 | $3,560.57 |
| 13 | $200.00 | $65.28 | $3,425.85 |
| 14 | $200.00 | $62.81 | $3,288.66 |
| 15 | $200.00 | $60.29 | $3,148.95 |
| 16 | $200.00 | $57.73 | $3,006.68 |
| 17 | $200.00 | $55.12 | $2,861.80 |
| 18 | $200.00 | $52.47 | $2,714.27 |
| 19 | $200.00 | $49.76 | $2,564.03 |
| 20 | $200.00 | $47.01 | $2,411.04 |
| 21 | $200.00 | $44.20 | $2,255.24 |
| 22 | $200.00 | $41.35 | $2,096.59 |
| 23 | $200.00 | $38.44 | $1,935.03 |
| 24 | $200.00 | $35.48 | $1,770.51 |
| 25 | $200.00 | $32.46 | $1,602.97 |
| 26 | $200.00 | $29.39 | $1,432.36 |
| 27 | $200.00 | $26.26 | $1,258.62 |
| 28 | $200.00 | $23.07 | $1,081.69 |
| 29 | $200.00 | $19.83 | $901.52 |
| 30 | $200.00 | $16.53 | $718.05 |
| 31 | $200.00 | $13.16 | $531.21 |
| 32 | $200.00 | $9.74 | $340.95 |
| 33 | $200.00 | $6.25 | $147.20 |
| 34 | $149.90 | $2.70 | $0.00 |
Estimate assumes a fixed APR, interest charged monthly at APR ÷ 12, a fixed payment at month-end, and no new charges or fees. Actual statements may use daily interest and different payment timing.
How the payoff estimate works
Each month, the calculator adds estimated interest to the remaining balance, then applies your fixed payment. The last payment is reduced to the amount still owed. If the payment cannot cover the first month’s interest, the calculator explains why the balance will not fall.
Why might my statement differ?
This is a planning estimate, not a lender quote. Many card issuers calculate interest daily. Fees, new purchases, promotional rates, and payment dates can change the result. Use the APR and balance from your current statement and update this saved plan as they change.
Minimum payments often change with the balance. This tool models the same dollar payment each month; it does not predict a card issuer’s minimum-payment formula.
For more context, see the CFPB’s credit card resources. Build a saving habit with the savings challenge tracker.