Credit Card and Loan Payoff Calculator - See How Long it Takes to Pay Off Balance

Use the Credit Card and Loan Payoff Calculator to compute the number of months required to pay off a balance on a credit card or another type of loan. Enter a selected annual percentage rate (APR) for a credit card or annual interest rate for other loans and a monthly payment.

Compound Interest Calculator
Current Balance ($):
APR or Interest Rate (%):
Monthly Payment ($):
Number Months to Pay Off
Total Interest Paid
  Do not enter $ or % in any field.

Computational Notes:

The calculator assumes that no new charges are added and that payments are made monthly.

The interest on the current balance is calculated first. Interest is equal to the current balance multiplied by the APR or interest rate expressed as a decimal equivalent (15% becomes 0.15) divided by 12. The new balance is equal to the current balance plus the interest minus the monthly payment.