Credit & Debt Calculators
Credit Card Payoff Calculator
See how long a credit card balance takes to clear at a fixed monthly payment, and how much interest that costs.
Time to clear
36 months
- Total interest
- $2,395
- Total repaid
- $8,895
- Interest in the first month
- $118.62
M6M12M18M24M30M36
How this calculator works
Each month: interest = balance × APR ÷ 12, then balance −= (payment − interest)
- APR
- the annual rate charged on purchases
Important considerations
- New spending on the card resets progress.
- Promotional 0% periods change the maths entirely while they last.
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Terms used here
Frequently asked questions
Why does a small payment take so long?
Because most of it covers interest, leaving very little to reduce the balance.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01