Credit Card Payoff Calculator

Credit Card Payoff

Use this calculator to see what it will take to pay off your credit card balance, and what you can change to meet your repayment goals.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Credit Card Pay Off Calculator

Use this calculator to see what it will take to pay off your credit card balance, and what you can change to meet your repayment goals.

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For more information about these financial calculators please visit: Dinkytown.net Financial Calculators from KJE Computer Solutions, Inc.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

$203.55 a month will pay off balance in 24 months.

*indicates required.

Credit card information:

Current balance:*This entry is required.Enter an amount between $0 and $1,000,000

Interest rate (APR):*This entry is required.Enter an amount between 0% and 30%

Payoff goal (in months):*This entry is required.Enter an amount between 1 and 120

Current monthly payment:*This entry is required.Enter an amount between $0 and $10,000

Additional monthly charges:*This entry is required.Enter an amount between $0 and $10,000

Annual fee:*This entry is required.Enter an amount between $0.00 and $200.00

Planned major purchases:

$0.00

Credit Card Payoff by Month Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Credit Card Payoff by Month

Alternate Payoff Scenarios Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Alternate Payoff Scenarios

Definitions

Current balance

Current outstanding balance on your credit card.

Interest rate (APR)

The annual interest rate being charged for this credit card.

Payoff goal (in months)

Your goal for paying off this credit card. This is the number of months by which you would like to have completely paid off this credit card balance.

Current monthly payment

The amount you are currently paying per month on this credit card. Please enter the amount you actually pay, not the minimum payment. This amount is used to calculate how long it will take you to pay off your balance.

Additional monthly charges

Total new charges you expect to put on this credit card per month.

Annual fee

Your annual fee for this credit card, if any.

Major purchase

If you expect a major purchase beyond your normal charges, enter the amount to be spent here.

Months before purchase

Number of months before your major purchase will occur.

Credit Card Payoff Calculator