US Credit Card Interest & Payoff Calculator
See how long it takes to pay off your credit card balance and how much interest you'll pay â plus savings vs. minimum payments.
đŗ Credit Card Payoff Calculator
See exactly how long and how much it costs to pay off any credit card balance.
Card Details
What is the US Credit Card Interest & Payoff Calculator?
Enter your credit card balance, APR, and monthly payment to find your payoff timeline, total interest cost, and how much you save compared to making only minimum payments.
How Does the US Credit Card Interest & Payoff Calculator Work?
Input your balance, annual interest rate (APR), and how much you can pay monthly. The calculator tracks month-by-month repayment until the balance reaches zero.
Formula & Calculation Method
Monthly interest = balance à (APR / 12). Minimum payment is estimated at 2% of balance. Both payoff timelines are simulated month-by-month to calculate total interest paid.
Example Calculation
Paying off a $5,000 balance at 22.99% APR with $200 monthly payments takes 38 months and costs $2,096 in total interest.
Frequently Asked Questions
Monthly interest = balance à (APR / 12). Minimum payment is estimated at 2% of balance. Both payoff timelines are simulated month-by-month to calculate total interest paid.
Disclaimer: This tool is provided for informational and calculation purposes. Output values are estimates based on standard user inputs.