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

It depends on the balance, the APR and how much you pay each month. Interest is added to the balance every month, so a larger payment clears the card faster and cuts total interest sharply. Enter your numbers above to see the exact months and interest.

Why does paying only the minimum take so long?

On a high-APR card, the minimum payment is often only slightly more than the monthly interest, so very little goes to the principal. Paying a fixed amount above the minimum — rather than a shrinking percentage — is what actually clears the balance in a reasonable time.

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Credit Card Payoff Calculator

Q: What if my payment does not cover the interest?

If your monthly payment is smaller than the interest charged that month, the balance grows and the card is never paid off. The calculator will warn you. The fix is to increase the payment or lower the rate with a balance transfer.

Q: How is the interest calculated?

The calculator adds one-twelfth of the annual rate (APR) to the balance each month, then subtracts your payment, and repeats until the balance reaches zero. Real cards often compound daily, so your statement may differ by a small amount.

Updated: August 2026 · Estimates only — check your statement.

Enter your card balance, its APR and the amount you can pay each month, and this calculator shows exactly how long it takes to clear the card and how much interest you'll pay along the way. It works in any currency.

Card balance

APR (% p.a.)

Monthly payment

Time to pay off2 yrs 10 mos

Total interest$1,750

Total you'll pay$6,750

Interest as % of balance35%

Assumes a fixed monthly payment and monthly compounding of the APR. Real cards often compound daily and use a percentage-based minimum, so your statement may differ slightly. Open the full tool →

Why the monthly payment matters more than anything

Credit cards charge interest on whatever balance remains, so the size of your monthly payment is the single biggest lever on both how long you stay in debt and how much it costs. Because most of a high-APR card's minimum payment is swallowed by interest, paying a fixed amount above the minimum — rather than the shrinking percentage the card asks for — is what actually clears the balance. Nudge the monthly-payment field up and watch both the time and the interest fall sharply.

Worked example

On a $5,000 balance at 22% APR, paying $200 a month clears the card in about 2 years 10 months and costs roughly $1,750 in interest — about 35% on top of what you borrowed. Raise the payment to $300 and both the time and the interest drop substantially. Enter your own figures above to see your number.

Faster ways to clear a card

Pay a fixed amount, not the minimum. The minimum shrinks as the balance falls, which drags out the payoff; a steady fixed payment does not.
Cut the rate. Moving the balance to a 0%-intro or lower-rate card sends more of each payment to principal — see the balance-transfer calculator to check whether the fee is worth it.
Attack the highest-rate card first. If you have several cards, the debt-payoff (avalanche) calculator shows the cheapest order to clear them.

Methodology & assumptions

Each month the calculator adds one-twelfth of the annual rate (APR) to the balance, then subtracts your payment, and repeats until the balance is cleared. It assumes a fixed monthly payment (real card minimums are a percentage of the balance and fall over time, which lengthens payoff), monthly compounding (many cards compound daily, a small difference), and no new spending or fees on the card. It is a planning estimate, not a statement of your issuer's terms. See our methodology and editorial policy.

Frequently Asked Questions

Why does paying the minimum take years?

On a high-APR card the minimum is often only just above the monthly interest, so almost nothing goes to principal. A fixed payment above the minimum is what clears the balance.

What if my payment doesn't cover the interest?

Then the balance grows and the card is never paid off — the calculator warns you. Increase the payment or lower the rate.

Does this match my statement exactly?

Closely, but not to the cent — many issuers compound daily and set a percentage-based minimum, so treat this as a planning estimate.

Have more than one card?

See the cheapest order to clear several debts, and how much the avalanche method saves over the snowball.

Open the debt payoff calculator →

Related calculators

Sources

Uses standard reducing-balance interest math. Figures are estimates for planning, not a statement of any issuer's terms — confirm the APR and minimum on your statement. See our methodology and editorial policy.