Debt Payoff Calculator
Estimate how long it takes to pay off a debt (like a credit card), how much interest you’ll pay, and view a month-by-month payoff schedule. Results update instantly as you type.
Methodology: deterministic formulas based on your inputs only. No account data, no external rates, and no personalized advice.
Last updated:
Results
Solid: balance · Dashed: interest paid
Tip: Large numbers may be abbreviated (e.g., 2.5M).
Compare Scenarios
Save your current inputs and compare Current + up to 2 saved scenarios.
Note: Saved scenarios are stored locally in your browser.
No saved scenarios yet.
| Compare | Scenario | Saved | Actions |
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Compare
Select up to 2 saved scenarios to compare with Current.
Payoff schedule
| Month | Payment | Interest | Principal | Balance |
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How it works
We apply monthly interest using APR / 12, then subtract your monthly payment (plus optional extra payment). The schedule continues until the balance reaches zero (or a safety cap is reached).
Note: If your payment is too small (less than monthly interest), the balance will grow and payoff will never happen.
What most affects payoff speed
The three biggest drivers are starting balance, APR, and monthly payment. A higher APR increases how much of each payment is consumed by interest, which slows principal reduction.
Even modest increases in monthly payment can shorten the timeline materially, especially when applied consistently from the beginning.
How to interpret the results and schedule
Use Months to payoff for timeline planning and Total interest to measure true borrowing cost. Both should be reviewed together when comparing repayment strategies.
The monthly table shows exactly how much goes to interest versus principal, making it easier to see when your debt begins to decline faster.
Using this for repayment strategy
Test multiple scenarios: minimum payment, a fixed extra amount, and an aggressive payment target. Compare the payoff timeline and interest cost across each scenario.
This gives you a clear tradeoff between monthly cash flow and total cost, which can help set a realistic payoff plan you can sustain.
FAQ
Why does the last balance sometimes show a tiny non-zero number?
Due to floating-point rounding. We clamp the final balance to zero once it’s very close.
Does currency selection convert amounts?
No. Currency only changes formatting (symbols and separators).