Credit Card Payoff Calculator — Time & Interest to Clear a Balance

How credit card payoff works

Credit card interest is charged on your remaining balance every month. When you pay only the minimum — typically 1–3% of the balance — most of that payment is swallowed by interest, so the balance barely moves and the debt can linger for decades. Paying a fixed amount above the minimum dramatically cuts both the time and the total interest, because more of every payment attacks the balance itself.

Frequently asked questions