Reckonary / Finance / Credit card payoff calculator
Months to pay off
Put in what you owe, the card's APR, and the amount you can pay each month. This calculator shows how many months it takes to reach a zero balance and how much of your money goes to interest along the way. If the payment is too small to keep up with the interest, it tells you that too.
A minimum payment is usually a small percentage of the balance, so most of it covers interest and only a sliver chips away at what you owe. That stretches the payoff over years and quietly multiplies the interest. Paying a fixed amount that is well above the minimum is what actually shrinks the balance.
Card interest is charged monthly on the balance you carry. The APR is split across twelve months, so an 18% card adds about 1.5% to the balance every month. That charge is taken out of your payment first; only what is left reduces the balance. A higher APR means more of each payment is eaten by interest.
Every extra dollar goes straight to the balance, which lowers next month's interest, which frees up even more of the following payment. Small increases compound in your favor and can cut months, sometimes years, off the payoff. Try nudging the monthly payment up and watch the months and total interest fall.
Is it better to pay off one card or split across several?
Mathematically, putting extra money toward the card with the highest APR first saves the most interest. Once it is clear, roll that payment into the next highest card.
Will paying off my card help my credit score?
Usually yes. Lowering your balance reduces your credit utilization, which is a large factor in most scores. Keeping the account open after payoff can help more than closing it.
Does a balance transfer change these numbers?
It can. Moving the balance to a 0% intro APR card pauses interest for a set window, so almost all of your payment reduces the balance. Watch for the transfer fee and the rate after the intro period ends.
What happens if I only ever pay the minimum?
The payoff drags on for years and the interest can rival or exceed the original balance. A fixed payment above the minimum is what gets you to zero in a reasonable time.
Last reviewed June 2026. This tool is for education, not financial advice.