DEBT · ON YOUR DEVICE
Credit card payoff calculator
Enter a balance, APR and monthly payment to see how many months it takes to pay off a card and what the interest costs.
EXAMPLE ESTIMATE
Your estimate
Enter your values and select Calculate.
Estimates use your assumptions. Calculations use unrounded values; displayed figures are rounded.
HOW IT WORKS
A useful estimate starts with clear inputs.
- Step 1
Enter your current card balance and the APR from your statement.
- Step 2
Enter the amount you plan to pay every month. Assume no new purchases.
- Step 3
Calculate to see the payoff time and total interest, then try a higher payment to compare.
At 0% interest, a 1,200 balance paid at 100 a month is cleared in 12 months with no interest.
Calculation assumptions and limits
The APR is divided by 12 and applied monthly to the remaining balance, with payments at the end of each month and no new purchases, fees or rate changes. Real issuers usually calculate interest daily and may use a minimum payment that changes, so your statement can differ by a small amount. Promotional rates, balance transfers and late fees are excluded.
Can I use this with my local currency?
Yes. All inputs in one calculation must use the same currency. The currency selector changes number formatting and labels; it does not look up exchange rates or convert your amounts. Local loan rules and products may calculate costs differently.
Are my numbers saved?
No. Your inputs and results stay in this page’s memory. Reloading or leaving clears them. Download the CSV or print the result if you want a copy.
Learn more: CFPB: how card interest is calculated. WORDMIO calculates locally using the assumptions above.
See how long it takes to clear a card balance
Enter your current balance, the APR from your statement and the amount you plan to pay each month. The calculator shows how many months it takes to reach zero and the total interest you pay along the way.
It assumes you make no new purchases. Try a higher monthly payment to see how much faster you finish and how much interest you save. Card issuers usually calculate interest daily, so your statement may differ slightly.
Free to use. No sign-up required.
How to use this tool
- Enter your balance and the APR from your card statement.
- Enter the monthly payment you plan to make, with no new purchases.
- Calculate, then try a higher payment to see the months and interest you save.
A practical example
With 0% interest, a 1,200 balance paid at 100 a month takes 12 months and costs no interest.
Before you finish
Issuers usually compute interest daily, so your statement can differ slightly. The monthly payment must be higher than the first month of interest.
Frequently asked questions
Why does my payment need to be higher than the interest?
If the payment is no larger than the first month of interest, the balance never goes down. The calculator will tell you the interest amount so you can choose a higher payment.
Is this exactly what my card issuer will charge?
No. Issuers often compute interest daily and have their own rules for minimum payments and fees. This gives a close estimate based on monthly interest.
Does paying more than the minimum help?
Yes. A higher payment reduces the balance faster, so less interest builds up. Try different amounts and compare the months and total interest.