Credit Card Payoff Calculator: Plan Your Debt Freedom

Credit card debt can feel endless when making minimum payments. Our calculator shows your payoff timeline and reveals how much you save by paying more.

How to Use

1. Enter your balance and APR (annual percentage rate)
2. Set your monthly payment amount
3. See payoff timeline — months to pay off and total interest
4. Compare with minimum payments to see the difference

Common Use Cases

• Debt planning: Know your exact payoff date
• Motivation: See the real cost of minimum payments
• Payment strategy: Decide how much extra to pay each month
• Multiple cards: Plan payoff order for multiple balances

Frequently Asked Questions

Why are minimum payments so expensive? Minimums are typically 1-3% of the balance, barely covering interest. Most of your payment goes to interest, not principal.

Should I pay off the highest APR card first? Mathematically yes (avalanche method). Psychologically, paying the smallest balance first (snowball method) provides motivation.

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Try our free Credit Card Payoff Calculator now.