Free financial calculator guide
Credit Card Payoff Calculator: Interest Buster
See how adding extra monthly payments could affect credit card payoff time and interest.
Use the free Credit Card Payoff Calculator
Open the working calculator on the MoneyWise Tools homepage. It does not require a Premium subscription.
Open Credit Card Payoff Calculator →Why this calculation matters
Paying more than the minimum can reduce interest costs and get a credit card balance paid off sooner.
How to use the calculator
Enter the balance, APR, minimum payment and any planned extra monthly payment.
What to keep in mind
Keep making at least the required minimum payment; card terms and changing APRs may affect actual payoff.
The interactive calculator is on our main calculator page. Use the button above to jump directly to it; the guide here explains the inputs and how to interpret your estimate.
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Educational estimates only; not personalized financial, tax or investment advice. Read our disclaimer.