Finance Calculator

Credit Card Payoff Calculator

Compare payments and interest, or find the payment for your payoff deadline.

Plan your card payoff

Check the payment, costs, and time together.

Current card balance

Standard APR percent

Display currency

No exchange conversion.

Choose a payment plan

Calculation mode

Planned monthly payment

Extra monthly payment

Comparison deadline in months

The target finds a fixed payment that clears the balance by this month and meets every modeled monthly minimum.

Fixed payments include your recurring extra. Minimum mode recalculates a payment each month. Deadline mode solves for the total fixed payment; the recurring extra field is inactive.

Estimated minimum-payment rule

Used by the minimum-only comparison and deadline constraints in every mode. Match your agreement where possible; these are illustrative rules.

Minimum calculation

Minimum percentage

Minimum payment floor

The larger of this rule and the floor applies, capped at the amount owed. New purchases enter the statement-percent rule immediately and the opening-balance rule from the next month.

Spending and monthly fees

New monthly charges

Charge through month number

Use zero for ongoing spending until the first zero balance; otherwise charges stop after this numbered month.

Recurring monthly fee

Interest is calculated first; new charges and the fee are then added before payment. Fees continue each month until payoff.

Use an introductory APR

One-time extra payment

One-time extra amount

One-time payment month number

Applied after the regular payment in that month. The actual amount is capped at the remaining amount owed.

First payment month

The first monthly payment is at the end of this month.

Your projected payoff

Payoff time: $27\;\text{months}$
Final payment month: Mar 2029
First actual payment: $360.00
Total interest: $2,198.29
Actual payments: $9,398.29
New purchases and fees: $0.00

The card reaches its first zero balance in this model.

Remaining: $0.00.

Fixed payment for your deadline

Smallest constant regular payment meeting the modeled monthly minimums and clearing by $36\;\text{months}$ , including the scheduled one-time offer.

$285.90

This is the total regular payment, without an additional recurring extra. A one-time payment can help meet a minimum only in its scheduled month.

Compare with estimated minimums

Selected and minimum-only comparison
Plan	Payoff	Interest to date	Remaining
Your plan	$27\;\text{months}$	$2,198.29	$0.00
Minimum only	$239\;\text{months}$	$13,354.33	$0.00

Time difference, minimum only less your plan: $212\;\text{months}$ .

Interest difference, minimum only less your plan: $11,156.04.

The minimum-only plan uses the same rates, charges, fees, and minimum rule, without extra or one-time payments. Different payoff dates can mean different amounts of future spending and fees, so this is not an identical-purchases cost comparison.

First-month calculation

Amounts are in USD. Interest rounds at currency precision before charges, fees, and payments are applied.

B_1=7200+149.4+0+0-360=6989.4

Inputs saved with this plan

Currency: USD. First payment: Jan 2027. Target mode uses the solved fixed payment; minimum mode recalculates the modeled minimum each month.

Payment mode: Fixed monthly payment
Currency: USD
Balance entered: 7200
Standard APR: 24.9
Fixed payment entered: 260
Extra entered: 100
Deadline months: 36
Minimum rule: Opening balance percentage plus interest and fee
Minimum percentage: 1
Minimum floor entered: 35
Monthly charges entered: 0
Charges through month; zero is ongoing: 0
Monthly fee entered: 0
Introductory APR enabled: No
One-time amount entered: 0
One-time month: 1
First payment month: 2027-01

Entered amounts retain their original precision here. Calculation rounds individual monetary amounts half up to cents, or whole yen.

Complete monthly card schedule

Scroll horizontally to review every component. Negative net reduction means the balance grew. Printing includes every selected-plan row; CSV also includes the full minimum-only ledger.

Monthly credit card payoff schedule
Month	Opening	APR	Interest	New charges	Fee	Minimum	Regular paid	One-time paid	Net reduction	Closing
Jan 2027 (1)	$7,200.00	$24.9\%$	$149.40	$0.00	$0.00	$221.40	$360.00	$0.00	$210.60	$6,989.40
Feb 2027 (2)	$6,989.40	$24.9\%$	$145.03	$0.00	$0.00	$214.92	$360.00	$0.00	$214.97	$6,774.43
Mar 2027 (3)	$6,774.43	$24.9\%$	$140.57	$0.00	$0.00	$208.31	$360.00	$0.00	$219.43	$6,555.00
Apr 2027 (4)	$6,555.00	$24.9\%$	$136.02	$0.00	$0.00	$201.57	$360.00	$0.00	$223.98	$6,331.02
May 2027 (5)	$6,331.02	$24.9\%$	$131.37	$0.00	$0.00	$194.68	$360.00	$0.00	$228.63	$6,102.39
Jun 2027 (6)	$6,102.39	$24.9\%$	$126.62	$0.00	$0.00	$187.64	$360.00	$0.00	$233.38	$5,869.01
Jul 2027 (7)	$5,869.01	$24.9\%$	$121.78	$0.00	$0.00	$180.47	$360.00	$0.00	$238.22	$5,630.79
Aug 2027 (8)	$5,630.79	$24.9\%$	$116.84	$0.00	$0.00	$173.15	$360.00	$0.00	$243.16	$5,387.63
Sep 2027 (9)	$5,387.63	$24.9\%$	$111.79	$0.00	$0.00	$165.67	$360.00	$0.00	$248.21	$5,139.42
Oct 2027 (10)	$5,139.42	$24.9\%$	$106.64	$0.00	$0.00	$158.03	$360.00	$0.00	$253.36	$4,886.06
Nov 2027 (11)	$4,886.06	$24.9\%$	$101.39	$0.00	$0.00	$150.25	$360.00	$0.00	$258.61	$4,627.45
Dec 2027 (12)	$4,627.45	$24.9\%$	$96.02	$0.00	$0.00	$142.29	$360.00	$0.00	$263.98	$4,363.47
Jan 2028 (13)	$4,363.47	$24.9\%$	$90.54	$0.00	$0.00	$134.17	$360.00	$0.00	$269.46	$4,094.01
Feb 2028 (14)	$4,094.01	$24.9\%$	$84.95	$0.00	$0.00	$125.89	$360.00	$0.00	$275.05	$3,818.96
Mar 2028 (15)	$3,818.96	$24.9\%$	$79.24	$0.00	$0.00	$117.43	$360.00	$0.00	$280.76	$3,538.20
Apr 2028 (16)	$3,538.20	$24.9\%$	$73.42	$0.00	$0.00	$108.80	$360.00	$0.00	$286.58	$3,251.62
May 2028 (17)	$3,251.62	$24.9\%$	$67.47	$0.00	$0.00	$99.99	$360.00	$0.00	$292.53	$2,959.09
Jun 2028 (18)	$2,959.09	$24.9\%$	$61.40	$0.00	$0.00	$90.99	$360.00	$0.00	$298.60	$2,660.49
Jul 2028 (19)	$2,660.49	$24.9\%$	$55.21	$0.00	$0.00	$81.81	$360.00	$0.00	$304.79	$2,355.70
Aug 2028 (20)	$2,355.70	$24.9\%$	$48.88	$0.00	$0.00	$72.44	$360.00	$0.00	$311.12	$2,044.58
Sep 2028 (21)	$2,044.58	$24.9\%$	$42.43	$0.00	$0.00	$62.88	$360.00	$0.00	$317.57	$1,727.01
Oct 2028 (22)	$1,727.01	$24.9\%$	$35.84	$0.00	$0.00	$53.11	$360.00	$0.00	$324.16	$1,402.85
Nov 2028 (23)	$1,402.85	$24.9\%$	$29.11	$0.00	$0.00	$43.14	$360.00	$0.00	$330.89	$1,071.96
Dec 2028 (24)	$1,071.96	$24.9\%$	$22.24	$0.00	$0.00	$35.00	$360.00	$0.00	$337.76	$734.20
Jan 2029 (25)	$734.20	$24.9\%$	$15.23	$0.00	$0.00	$35.00	$360.00	$0.00	$344.77	$389.43
Feb 2029 (26)	$389.43	$24.9\%$	$8.08	$0.00	$0.00	$35.00	$360.00	$0.00	$351.92	$37.51
Mar 2029 (27)	$37.51	$24.9\%$	$0.78	$0.00	$0.00	$35.00	$38.29	$0.00	$37.51	$0.00

How to interpret this estimate

Monthly rate: $r_m=\frac{\mathrm{APR}}{1200}$ for an APR entered as a numerical percentage. Interest is charged on the opening balance before new purchases and the recurring fee. Regular and one-time payments follow at month end, capped at the amount owed.

This is a monthly planning approximation. Issuers may use daily balances, multiple APR categories, grace periods, trailing interest, or different minimum formulas. The optional introductory APR covers the entire modeled balance and then switches prospectively to the standard rate. It is not a deferred-interest promotion or a balance-transfer allocation model.

The first zero balance ends each projection; future purchases may recreate debt. Horizons stop at 600 months or a conservative large-total precision limit. Partial costs are not lifetime totals. A deadline payment must meet every modeled minimum, but your actual issuer minimum still governs. Fees or penalties resulting from underpayment are excluded.

What Can You Create?

Build a single-card repayment plan you can inspect

A payment-to-payoff timeline

Start with a payment you can afford and inspect its projected end date. See interest, new purchases, fees, and the remaining balance separately so a small payment does not look more effective than it really is.

A deadline-based payment

Choose a realistic number of months and find the smallest fixed payment that meets the modeled minimums and deadline. A planned one-time payment helps only in the month it is actually available.

A minimum-only comparison

See the effect of declining estimated minimum payments alongside your selected plan. Compare complete timelines carefully, because continued purchases or fees can make the longer plan contain different future transactions.

Credit card payoff formulas and a worked example

The monthly planning rate uses APR entered as a numerical percentage. Opening balance, interest, new charges, fee, and actual payment determine the next closing balance. Each monetary input and the interest charge rounds at the selected currency's precision.

r_m=\frac{\mathrm{APR}}{1200},\qquad I_t=\operatorname{round}_{\text{currency}}\!\left(B_{t-1}r_m\right)

S_t=B_{t-1}+I_t+C_t+F_t,\qquad B_t=S_t-P_t

Here the modeled statement amount is $S_t$ , new charges are $C_t$ , and the recurring fee is $F_t$ . Actual payment is capped at the statement amount. A one-time payment follows the regular payment and is capped at what remains.

P_t=\min\!\left(S_t,R_t+L_t\right)

Step 1: Calculate the monthly interest

Suppose a card starts with 1,000 dollars, an APR of $24\%$ , a regular payment of 100 dollars, new purchases of 50 dollars, and a five-dollar recurring fee. Interest on the opening balance is 20 dollars in the first month.

I_1=1000\cdot\frac{24}{1200}=20

Step 2: Add purchases and fees, then pay

The amount owed becomes 1,075 dollars before payment. A 100-dollar payment leaves 975 dollars. Only 25 dollars of net balance reduction occurs, because the remaining payment covers the modeled interest, purchases, and fee.

B_1=1000+20+50+5-100=975,\qquad \Delta B_1=1000-975=25

Step 3: Check the minimum and future months

Using an opening-balance minimum of $1\%$ plus current interest and fee, with a 35-dollar floor, the estimated minimum is 35 dollars. With a statement-percentage rule, the percentage instead applies to the full modeled statement amount before the floor and cap.

M_1=\min\!\left(1075,\max\!\left(35,0.01\cdot1000+20+5\right)\right)=35

Repeat using the new opening balance each month. A promotion can change the rate after its final introductory month, and a spending stop can remove later purchases. The deadline solver searches whole currency units for a fixed regular payment that clears by your target and meets each modeled minimum, including any one-time payment only when scheduled.

B_n=0\text{ for some }n\leq N,\qquad P_t\geq M_t\text{ in every simulated month}

Do not assume a payment is sustainable just because the final date looks close. Check that it fits your income and essential expenses, and compare the modeled minimum against your actual statement. If you carry several separate debts, the debt payoff calculator can help coordinate their payment priority.

Why Users Love This Tool

Keep the assumptions beside the result

Inspect the mechanics

Interest and monetary inputs round half up before balances are updated.
Two minimum rules and a payment floor make the minimum-only scenario explicit.
Deadline payments are solved at currency-unit precision rather than rounded down from an unrounded estimate.
The ledger preserves negative balance reduction when debt grows rather than hiding it as zero progress.

Recognize the boundaries

An introductory rate switches prospectively; deferred interest and multiple-rate buckets are excluded.
Payments below modeled minimums get a visible warning instead of an apparent endorsement.
Partial projections retain their remaining balances and withhold lifetime interest differences.
Sharing and exports retain active settings so a saved number can be traced back to its assumptions.

Perfect For

Useful for everyday card repayment decisions

Budget planning

Test a monthly commitment alongside essentials and savings goals. Use the budget calculator to check what you can maintain rather than choosing an extra payment solely because it produces an attractive payoff date.

Promotion reviews

Explore a simple whole-balance introductory rate and the later standard rate. Keep the actual agreement nearby to identify transfer fees, allocation rules, or deferred interest that this single-rate model does not include.

Progress check-ins

Replace an old estimate with the balance and terms from your latest statement. Compare the saved ledger with what happened, identify changed purchases or fees, and revise the plan instead of relying on an outdated schedule.

How It Works

How it works in three quick steps.

Enter your balance and card terms

Enter the current balance, standard APR, display currency, and estimated minimum-payment rule. Add an introductory APR only if it applies to the entire modeled balance.

Choose the payment and future card use

Select a fixed payment, estimated minimum plus extra, or a payoff deadline. Set new monthly charges, their stopping month, recurring fees, and any one-time payment.

Inspect every month and save the plan

Review interest, actual payments, minimum shortfalls, and remaining debt. Compare with minimum-only payments, inspect the monthly ledger, download CSV, or print the selected schedule.

Download & Print

Save the calculation with its full context

Download both CSV ledgers

Export every month of the selected and minimum-only plans, together with active input values and completion status. Interest, spending, fees, regular payments, and one-time payments stay in separate columns for easier review.

Print or save a landscape PDF

Use Print / Save PDF and select landscape for the wide monthly table. The printed layout removes controls and supporting sections while retaining results, entered precision, assumptions, and every selected-plan repayment row.

Copy a reproducible scenario

Copy the summary for a compact record or share the settings link to reopen an editable plan. Recipients can read the financial values in the link; avoid treating it as an encrypted record or posting personal scenarios publicly.

FAQ

Frequently Asked Questions

How does the credit card payoff calculator calculate interest?

This calculator uses equal monthly periods. It converts the numerical APR into a monthly rate, applies that rate to the opening balance, and rounds the interest charge at currency precision. It then adds that month's purchases and recurring fee before applying end-of-month payments. Many issuers use daily balances instead, so the result is a transparent planning approximation rather than a statement reconciliation.

How do fixed, minimum, and deadline payment modes differ?

Fixed mode repeats the planned payment plus your extra amount until the card reaches zero. Minimum mode recalculates the chosen minimum rule each month and adds your extra. Deadline mode finds the smallest constant regular payment that clears by the chosen month while meeting every modeled minimum. The one-time offer is included separately, and the extra field is inactive in deadline mode.

Which minimum-payment formula should I choose?

Use your card agreement to guide the choice. One option takes a percentage of the full modeled statement, including interest, purchases, and fees. The other takes a percentage of the opening balance and adds current interest and the recurring fee. Both apply your payment floor and cap the result at the amount owed. These illustrative formulas do not capture every issuer's minimum requirements.

What happens if I keep making new purchases?

New monthly purchases are added before each payment. They can reduce or reverse your progress, particularly when the payment is small. You can enter a numbered month after which purchases stop, or use zero for ongoing purchases until the first zero balance. The projection ends at that first zero; later card use can create fresh debt even after the displayed payoff date.

How is an introductory APR handled?

The introductory rate applies to the entire opening balance for the number of initial months you select. The standard rate begins in the following month and applies prospectively. This does not recreate a card with separate purchase and transfer APRs or a deferred-interest offer that may assess earlier interest retroactively. Check the terms of a specific promotion before comparing its cost with this simplified scenario.

Why can a card payoff projection be incomplete?

The calculator continues even when the balance initially rises, because spending may stop later or a future one-time payment may help. It stops without a full payoff if the 600-month horizon is reached or a conservative large-total precision guard applies. In either case, it shows remaining debt and costs through the simulated period. It does not label those partial costs as lifetime interest.

Does a deadline payment guarantee I can pay the card off?

The deadline payment is an exact-currency result within the displayed assumptions. It must clear by the selected month and satisfy each modeled minimum, with the one-time amount available only in its scheduled month. Real statements may differ because of daily interest, changing rates, fees, transaction timing, or lender minimums. Review actual statements and update the plan rather than treating the result as a guaranteed payoff quote.

What does a below-minimum warning mean?

Your selected fixed payment can be smaller than the estimated minimum, even when it eventually pays off the balance mathematically. The warning counts months in which the actual regular and one-time payments together fall below that month's modeled minimum. Late fees, penalty rates, and other underpayment consequences are excluded from the projection. Keep paying the actual minimum required by your issuer and review the entered plan.

Are the minimum-only interest differences always comparable savings?

The minimum-only plan uses the same purchase policy, rates, fees, and minimum formula but no extra or one-time payments. It may run for more months, generating more future purchases and fees before its first zero balance. The displayed interest difference therefore compares those complete modeled scenarios, rather than guaranteeing savings on identical transactions. Lifetime differences are withheld whenever either projection is incomplete, and signed differences are preserved.

Can I download, print, or share the full payoff schedule?

Yes. CSV contains the selected and minimum-only ledgers, original active inputs, statuses, and assumptions. Print includes every selected-plan row; choose landscape and Save as PDF for the wide table. A shared link stores settings in its fragment and restores them when opened. Anyone with that link can read the financial values, so save and distribute it with the same care as a personal budget.

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About This Tool

About this credit card repayment planner

A credit card payment serves several purposes at once. Part may cover interest, part may absorb new purchases or fees, and only the remainder may reduce what you owed before the month began. Toolarithm's Credit Card Payoff Calculator makes those components visible so repayment progress can be evaluated month by month. Instead of presenting only a distant payoff date, it retains a complete ledger and shows when a payment falls below the selected estimate of the minimum. This helps distinguish a mathematically declining balance from a plan that also respects the modeled monthly payment requirements.

The three payment modes answer different planning questions. A fixed payment tests an existing budget commitment. A minimum-plus-extra scenario shows how declining minimums interact with additional money. A deadline calculation works backward to a constant regular payment, using rounded monthly balances and minimum constraints rather than an unrounded formula alone. Optional new purchases, a spending stop, a recurring fee, an introductory rate, and a scheduled one-time payment can be included without losing sight of when each assumption takes effect.

This tool is intended for one aggregate card balance at one applicable rate per month. It does not reconcile daily transactions or split an account into purchases, transfers, cash advances, and deferred-interest categories. A bank's payoff quote can include details absent from a planning model, such as trailing interest or different payment-allocation terms. Revisit the inputs when a statement arrives, confirm the actual minimum and current APR, and use the downloadable records to compare assumptions with real results. Reaching the first zero balance also does not prevent future purchases from creating a new obligation.

Editorial Transparency

Who maintains this page

Ownership and review

Written and maintained by the Toolarithm editorial team. No review date is shown without a maintained editorial record. No independent professional review is claimed.

Methodology

Formulas are checked with worked examples and boundary cases. Timing, compounding, payment, and rounding assumptions remain visible; results are educational estimates, not financial advice.

Read the editorial methodology

Dates and sources

Review dates change only after a substantive method or content check.

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