Estimate how long it may take to pay off a credit card using a fixed payment or an issuer-style minimum payment, then see how extra payments could change the cost and timeline.
The calculator applies monthly interest to the opening balance, determines the required payment under your selected strategy, then applies recurring and eligible one-time extra payments. It repeats the process until the balance reaches zero.
Credit cards commonly accrue interest daily and use issuer-specific minimum-payment rules. This planning estimate uses monthly interest and the minimum-payment percentage and floor you enter, so your statement and actual payoff quote may differ.
Beginning balance × APR ÷ 12Lesser of amount due and greater of (post-interest balance × minimum percentage) or minimum floorRequired payment + extra payments − monthly interestBeginning balance − principal paidStarting January 1, 2026, a $200 fixed monthly payment produces an estimated 33-payment payoff on October 1, 2028, with $1,522.10 in interest and $6,522.10 paid. Adding $50 each month reduces the estimate to 25 payments ending February 1, 2028, with $1,133.03 in interest and $6,133.03 paid.
A larger payment generally reduces principal faster, leaving a smaller balance on which future interest can accrue.
This estimate assumes no new purchases, fees, or cash advances. New transactions can extend payoff and increase interest.
Review your card agreement and statements for the issuer’s interest method, minimum-payment formula, due date, and allocation rules.
A fixed payment stays at the amount you choose until the smaller final payment. A percentage-based minimum generally declines with the balance, subject to the dollar floor. Declining payments can substantially extend payoff even when every required payment is made.
The minimum payment in this calculator is computed from the balance after monthly interest is added. Extra payments are applied after the required payment, and a dated one-time payment is applied on the first scheduled payment date on or after its selected date.
The calculator uses a monthly rate equal to APR divided by 12 and applies it to the beginning balance for each payment period.
It uses the greater of your percentage of the post-interest balance or dollar floor, capped at the total amount due.
Because a percentage-based minimum falls as the balance falls, less money may go toward principal over time and payoff can be prolonged.
They reduce principal after the required payment, which generally lowers both future interest and the number of payments.
It is applied on the first scheduled monthly payment date that is on or after the date you select.
Yes. The final required and extra amounts are capped so the balance does not become negative.
No. The projection assumes no new charges, balance transfers, late fees, annual fees, or cash advances.
Issuers often calculate interest daily and use contractual minimum-payment, posting, fee, and rounding rules that differ from this monthly estimate.