Credit card debt
See how long it takes to clear your balance and the total interest you'll pay.
Payoff time
33 months
By Apr 2029
This calculator assumes a fixed interest rate and fixed monthly payment. Many cards have variable rates or may impose late fees. Always check your card agreement for exact terms.
Credit card debt grows at a compounding rate determined by your annual percentage rate (APR). This calculator takes your outstanding balance, APR, and planned monthly payment, then uses the debt payoff formula to compute how many months until you're debt-free and how much interest accumulates along the way. It's a wake-up call: even modest balances at high APRs can take years to clear if you pay minimums.
The calculator applies the logarithmic payoff formula: months = -ln(1 - balance × monthly_rate / payment) / ln(1 + monthly_rate), where monthly_rate is APR ÷ 12 ÷ 100. It first checks if your payment exceeds the monthly interest accrual—if not, the balance never shrinks. If payment is sufficient, the formula tells you exactly how many months of payments it takes to reduce the balance to zero. Multiplying the payment by months gives your total repayment; subtracting the original balance shows total interest paid.
Months = -ln(1 - balance × i / pmt) / ln(1 + i)balance = outstanding credit card balance, i = monthly interest rate (APR ÷ 1200), pmt = your fixed monthly payment. If (1 - balance × i / pmt) ≥ 1 or ≤ 0, the payment is too small and the debt never clears.
| Input | Result | Notes |
|---|---|---|
| Balance: $5,000 | APR: 20% | Payment: $200/month | Payoff time: 31 months | Total interest: $1,289 | Total paid: $6,289 | Typical high-APR card scenario; taking 2.5 years to clear because interest accrues faster than payment reduces principal |
| Balance: $2,000 | APR: 18% | Payment: $300/month | Payoff time: 7 months | Total interest: $192 | Total paid: $2,192 | Aggressive payment strategy saves dramatically on interest; clearing in less than a year |
| Balance: $10,000 | APR: 25% | Payment: $250/month | Payoff time: 56 months | Total interest: $4,012 | Total paid: $14,012 | Large balance at punitive APR with modest payment—nearly 5 years of debt and 40% interest cost |
Your balance will grow, not shrink. The calculator warns you. Increase payment, transfer to a lower-APR card, or negotiate a rate reduction with your issuer.
No. Credit card statements may include annual fees, late fees, or over-limit fees—add these separately to your total cost estimate.
The calculator assumes fixed payments. If you pay extra, you'll finish sooner and pay less interest. Use it to plan, then adjust as your cash flow allows.
Run the calculator both ways: (1) on your current card APR with higher payments, (2) on a 0% intro APR (input 0%) with your current payment. Compare total interest and switch if 0% APR saves more money after factoring in transfer fees.
Interest accrues monthly on the full balance. Until you reduce the principal significantly, interest eats most of your payment. This front-loading improves over time as balance shrinks.
The formula is mathematically precise, but real payoff may vary slightly due to rounding, leap years, varying payment dates, and fees. Use it to plan, then verify with your card issuer before finalising.