How to read the payoff estimate
The calculator applies a monthly APR rate to the remaining balance, adds monthly charges and a monthly share of any annual fee, then subtracts your payment. If the payment does not reduce principal, the page warns that the balance may not be paid off under the entered assumptions.
Example
With a $5,000 balance at 21.99% APR and a $250 monthly payment, part of the first payment goes to interest before principal falls. Adding new monthly charges can make the payoff much slower or prevent payoff entirely.
Common mistakes
Do not assume paying the minimum means the balance is moving quickly. If the payment barely exceeds interest and fees, payoff can take much longer than expected.
Minimum payment caveat
The displayed minimum payment is a simplified estimate using the greater of a percentage of balance or a payment floor. Real issuers may add interest, fees, past-due amounts or other rules, so your statement can differ from this estimate.
Limitations
This is not a statement, payoff quote or credit advice. Promotional APRs, daily balance methods, late fees, penalty rates and issuer-specific rules are not included.
References
- Consumer Financial Protection Bureau: credit cards, accessed 2026-05-16.
Last reviewed: 2026-05-16