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
How this calculator works
Each month: interest = balance × APR ÷ 12, then balance −= (payment − interest)
- APR
- the annual rate charged on purchases
Example calculation
Illustrative example — not advice
Worked example — the credit card payoff calculator as it loads, using the default figures below.
- 01Enter card balance: $6,500.
- 02Enter aPR: 21.9%.
- 03Enter monthly payment: $250.
- 04Read the time to clear from the results panel: 36 months.
Time to clear: 36 months. Total interest: $2,395. Total repaid: $8,895. Interest in the first month: $118.62.
These figures come straight from the calculator above running on the values listed, so you can retype them and confirm every number yourself. Change any input and the results update immediately. Illustrative only — not a quote, offer or recommendation.
Important considerations
- New spending on the card resets progress.
- Promotional 0% periods change the maths entirely while they last.
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Learn more
How Credit Card Interest Is Calculated
How card issuers turn an APR into a daily rate, why the average daily balance matters, and how to check the interest line on your own statement.
How Long Do Minimum Payments Take to Clear a Credit Card?
Why percentage-based minimum payments stretch repayment over decades, what the statement's minimum payment warning box tells you, and how much a modest increase saves.
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