How long will it take to pay off my credit card?

Estimate how many months it will take to pay off a credit card balance, and see how much time and interest an extra monthly payment can save.

Credit Card or Loan Information

Current credit card balance ?

The amount currently owed on the card.

Annual percentage rate ?

The card's yearly interest rate.

Proposed additional monthly payment ?

Extra amount paid each month on top of the minimum payment.

Assumptions

Advanced options 3

Minimum payment percentage ?

The percentage of the balance the card issuer requires as a minimum payment each month.

Minimum payment amount ?

The smallest dollar amount the card issuer will accept as a monthly payment.

Desired table display ?

Monthly Yearly

How the payoff schedule below should be broken out (for example, by year or by month).

Enter your values and select Calculate.

Americans today owe more money than ever before. The fact that 'interest never sleeps' means that the situation will continue to worsen unless steps are taken at the individual level to reduce or eliminate debt. Additional monthly payments can make a difference to accelerate paying off your credit cards and save yourself hundreds and thousands in interest payments. Use our Credit Card Repayment Calculator to figure out when you can pay off your credit card.

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.