Find out how long it will take to pay off your credit cards using avalanche (highest rate first) or snowball (lowest balance first) strategies.
Find out exactly how long it will take to pay off your credit card balance, and how much interest you'll pay along the way, with our free credit card payoff calculator.
Each month, interest accrues on your remaining balance (annual rate ÷ 12), then your payment reduces the balance. This calculator runs that cycle month by month until your balance reaches zero, tracking total months and total interest paid.
If your payment is close to your minimum, most of it may go toward interest rather than principal, especially early on with high balances.
Even a modest increase in monthly payment can significantly cut both your payoff time and total interest, since less balance accrues interest over time.
No, this calculator assumes no new charges are added, it purely models paying down the existing balance.
Common approaches include the "avalanche method" (highest interest rate first) or "snowball method" (smallest balance first); both are valid depending on your motivation style.