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Credit Card Payoff Calculator

Find how long it will take to pay off a credit card balance.

How this is calculated
Simulates the balance month by month: interest accrues on the remaining balance, then the fixed payment is applied

Assumptions used in this calculation

  • Interest compounding: Interest accrues monthly on the outstanding balance at APR ÷ 12, this ignores the daily compounding some issuers use, which produces a slightly higher real-world cost.
  • No new charges: Assumes no additional purchases or fees are added to the card while paying it down, and that the fixed monthly payment is made in full every month.

About this calculator

The credit card payoff calculator simulates paying down a revolving balance with a fixed monthly payment, showing how many months it will take and the total interest paid at the card's APR.

Worked example

₹1,00,000 balance, 36% APR, ₹5,000/month payment

Result: Paid off in 31 months; ₹54,995 in total interest

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