Credit Card Payoff Calculator: Time to Pay Off, Interest & Monthly Payment
Calculate your credit card payoff time and total interest in the United States. Compare repayment strategies like debt snowball or avalanche to clear debt.
Last updated: 16 October 2026
Credit Card Payoff Calculator
Estimate payoff time, total interest, and monthly payments. Compare strategies and see the true cost of revolving credit. Results are estimates; check your cardholder agreement for exact terms.
Card Details
Payment Mode
Hypothetical minimum rule. Use your actual card's rule.
Results
Payment Schedule (First 12 Months)
| Month | Payment | Interest | Principal | Remaining Balance |
|---|
Payment Comparison
| Scenario | Monthly Payment | Months | Total Interest | Interest Saved vs Current |
|---|
Multiple Cards (Up to 5)
| Strategy | Total Months | Total Interest |
|---|
Method & Sources
- Monthly method (default): Each month interest = balance × APR/12, rounded to nearest cent. Balance updated after subtracting payment. Final payment clears balance exactly.
- Daily estimate: Optional estimation using daily periodic rate (APR/365 × days in month). Many issuers use average daily balance; this is an estimate.
- Target months: Uses annuity formula; payment rounded up so target is met; final payment smaller if needed.
- Minimum only: Uses user-entered percentage, floor, and whether interest is added on top. This is hypothetical - use actual cardholder agreement.
- Multi-card: Avalanche = highest APR first; Snowball = smallest balance first. Minimums paid first, extra goes to target card, rollover when cards paid off.
- Rounding: Cents level only. Interest rounded half-up each month. Target payment rounded up.
- Limitations: No new purchases, no fees, constant APR, no promotional/penalty rates, no payment allocation across balances on same card, issuer math may differ.
Official References (CANDIDATE - verify exact URLs)
- CFPB - Consumer Financial Protection Bureau
- eCFR - Regulation Z (12 CFR Part 1026)
- Federal Reserve G.19 - Consumer Credit
- FTC Consumer Advice
Last checked: 2026-10-16. Calculator conventions documented above.
FAQ
How is credit card interest calculated?
This calculator uses monthly method (balance × APR/12). Many issuers use daily rate on average daily balance. Your statement is authoritative.
How is minimum payment calculated?
Varies by issuer - often % of balance plus interest with floor. Enter your actual rule; we show hypothetical examples only.
Avalanche vs Snowball - which is better?
Avalanche saves most interest. Snowball clears accounts faster for motivation. Compare both with your numbers.
Will paying only minimum work?
Yes but takes much longer and costs more interest. The calculator shows the true cost.
Limitations & Disclaimers
This calculator is for informational purposes only. It is not financial advice, credit counseling, or an offer of credit. Results are estimates based on stated assumptions. Varnda is not a lender, card issuer, or financial advisor. Always verify with your cardholder agreement, statements, and official sources. Calculations run entirely in your browser.
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