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Financial calculator

Credit Card Payoff Calculator

Estimate the payment needed to clear a balance within a target payoff period, and compare it with your current payment.

Stop new charges for the cleanest payoff estimate. If new charges continue, the required payment must cover them plus interest and principal.

Method

The target-payment estimate uses the standard amortized payment formula with a monthly APR rate, then adds any continuing monthly charges. Current-payment payoff is simulated month by month.

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Example

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A $5,000 balance at 21.99% APR targeted for 24 months needs roughly $260 per month if no new charges are added.

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Common mistakes

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Do not use a payoff plan that assumes no new charges if the card will keep being used. New purchases can extend payoff time substantially.

Limitations

Credit card issuers may use daily balance methods, promotional APRs, fees, penalty rates and minimum-payment rules that are not included here. This is an educational estimate, not a payoff quote.

References

Last reviewed: 2026-05-16

Before relying on this result

Use this calculator together with the formula, assumptions, limitations and examples on the page. If the topic involves health, tax, lending, investment, legal, safety or current-rate decisions, treat the number as an estimate and check the relevant primary source or professional guidance.

Calculator metadata last reviewed: 2026-05-14.