Free calculator
Credit card payoff calculator
Model one revolving balance with a nominal APR you enter: either pay a fixed amount each month and see how long it takes to reach $0, or pick how many months you want and see the level payment that gets you there. Totals are illustration only—real cards use minimum payment rules, fees, and variable rates we do not replicate here.
When to use this calculator
A fast what-if for revolving card math before you paste the same structure into Sheets or Excel—transparent assumptions, not a bank UI.
- See how many months a steady payment buys at the APR you type—useful when you are not changing the payment every month in this model.
- Back-solve the monthly amount needed to be debt-free in N months at a flat APR—then compare to your budget.
- Copy NPER / PMT patterns from the Sheets & Excel section so reviewers see the same definition as this page.
- Jump to the amortization schedule tool when you need a full loan-style table with PPMT / IPMT lines—not the same UI as this card view.
We treat the balance like a single loan with monthly periods: interest accrues on the beginning-of-month balance at APR ÷ 12, then your payment covers interest first and reduces principal with the remainder.
Starting balance
You supply one revolving balance. Multiple cards, balance transfers, and new purchases are out of scope for this v1 view—use a spreadsheet model when you need those layers.
Monthly interest
Each month: interest = beginning balance × (APR ÷ 12) as a decimal rate. Daily accrual, grace periods, and different rates for purchases vs cash advances are not modeled—your issuer disclosure governs real interest.
Fixed payment or fixed horizon
Fixed payment mode iterates until the balance hits zero or a 600-month guardrail. Target months mode uses the same level-payment identity as PMT on the starting balance so the balance ends at zero on the last month in this simplified story.
What we do not model
Minimum payment formulas (% of balance + floor), fees, penalty APR, 0% promo windows, utilization and credit scores, and snowball/avalanche multi-debt ordering—say so clearly in FAQs when users expect those features.
This page is a teaching and spreadsheet-check aid. When APRs change or cash flows are uneven, rebuild the assumptions or use a full cash-flow model.
For a period-by-period loan table (same PMT family), open the amortization schedule calculator.
For savings with contributions and compound growth, use the compound interest calculator.
Google Sheets & Excel
B2 = balance, C2 = APR as a percent (e.g. 19.99), D2 = monthly rate =C2/100/12. Use NPER for months given a payment, or PMT for payment given months—end timing matches this page.
=NPER(D2,-E2,B2)B2 = balance; D2 = monthly rate as decimal (C2/100/12 when C2 stores APR as a percent); E2 = monthly payment as a positive number—use minus in NPER so payments are treated as outflows.
=PMT(D2,F2,-B2)F2 = target months as a count. PMT returns a negative cash outflow in US conventions—flip the sign in your sheet if you want a positive display.
In German Excel, argument separators are often ; and ZZR / RMZ replace NPER / PMT—use Formulas → Insert function to match your language pack.
Frequently asked questions
What does this credit card payoff calculator do?
It estimates months to zero, total interest, and total paid for one balance and a nominal APR, either from a fixed monthly payment you enter or from a target number of months (which implies a level payment). It is illustration math—not your issuer’s exact engine.
Is APR the same as my purchase APR on the statement?
We use one nominal APR you type for every month. Real cards can show variable APRs, promotional rates, cash-advance APRs, and penalty APRs in different lines—compare your inputs to the APR that actually applies to this balance story.
Why doesn’t this match my minimum payment schedule?
Minimum payments are issuer-specific (often a percent of balance plus interest with a floor). We do not implement those rules in v1—this page is built for a steady payment you choose or a PMT-style level payment for a fixed horizon.
Can I enter multiple credit cards?
Not in v1. Use a spreadsheet row per card, or a dedicated multi-debt planner, if you need snowball, avalanche, or extra roll-down logic across several balances.
Where are snowball and avalanche options?
Those methods rank multiple debts and apply extra dollars in a rule-based order. This tool stays single-balance for clarity; the FAQ above links to spreadsheet patterns when you outgrow one line.
Do you include annual fees, late fees, or balance transfer fees?
No. Fees change cash flows and sometimes interest timing. Model them explicitly in your sheet if they matter to your decision.
How is this different from the amortization schedule calculator?
The amortization tool prints a full loan schedule with principal and interest each month. This page answers card-style questions with fewer inputs—one balance line and revolving framing—then points you to NPER/PMT for workbooks.
When should I use the TVM calculator instead?
Use TVM when you need the five-variable sheet identity (PV, FV, PMT, rate, N) with payments per year and timing toggles across different stories. This page stays focused on pay down this card math.
How do I match this in Google Sheets or Excel?
Use the copy cards: NPER with monthly rate and payment, or PMT with months and balance. Keep APR as percent vs decimal consistent with your D2 cell.
Is this debt or legal advice?
No. It is a free educational calculator—not a recommendation to borrow, consolidate, or skip payments, and not a substitute for qualified help when you are in financial distress.