Credit card payoff calculator
See how long a credit card balance takes to clear at the payment you make now, what the interest costs, and what to pay each month to be done by a date you choose.
- Monthly payment
$200.00$200.00 - Total interest
$2,135$2,135 - Total paid
$7,135$7,135
Estimates, rounded for display. Rates, taxes and fees change; check the figures that matter against your own statements.
The math behind the result
Card interest is charged monthly on the balance at APR ÷ 12. A payment first covers that month’s interest, and only the rest reduces the balance, so a payment barely above the interest takes years and a payment well above it takes months.
With a set payment, the calculator runs the balance forward month by month until it reaches zero. With a payoff date, it sizes the payment with the amortization formula so the balance lands on zero in exactly that many months.
Every extra dollar goes to the balance and stops earning interest for the card, which is why raising the payment even modestly shortens the payoff more than the arithmetic suggests. New purchases are not modeled; pausing them is part of any payoff plan.
interest = balance × APR ÷ 12 balance = balance + interest − payment, month after month, until zero payment for a date = B × r ÷ (1 − (1 + r)^−n)
Questions, answered.
Connect the card and Zypper keeps its balance current in your net worth and finds the payment among your recurring bills, with its next expected date, so the plan you set here is one you can watch happen month by month.