Calculator
Credit Card Payoff Calculator
See how long a card balance takes to pay off — and what paying only the minimum really costs.
Your numbers
Assumes no new purchases on the card.
Results
Paying $100 a month
2 years, 2 months
$514 in interest
Paying only the minimum
11 years, 7 months
$2,600 in interest
- Balance $2,000
- Interest $514
“Minimum” here means 1% of the balance plus that month's interest, or $25, whichever is more — a common formula. Card issuers vary; your statement shows yours.
Educational calculator, not financial advice. Results are hypothetical estimates based on the numbers you enter.
How this calculator works
- Each month, interest is added at the APR ÷ 12, then your payment is subtracted.
- The minimum-payment comparison uses a common formula: 1% of the balance plus that month's interest, or $25, whichever is more.
- Assumes no new purchases and no late fees. Real cards may calculate interest daily.