Credit Card Balance & APR

Current Balance ($)

Annual Percentage Rate (APR %)

Payment Method

Fixed monthly payment

Monthly Payment ($)

Minimum payment (% of balance + floor)

Minimum Payment (% of balance) Typical issuer minimums are 1–3% of the statement balance.

Minimum Payment Floor ($)

Payoff Results

Months to Pay Off	—
Total Interest Paid	—
Total Amount Paid	—

How Credit Card Payoff Works

Credit card issuers charge interest on your remaining balance each billing cycle. This calculator estimates how long it takes to reach a zero balance when you pay a fixed amount each month, or when you pay a percentage-based minimum (with a dollar floor) that shrinks as the balance falls.

Steps

Enter your current statement balance and APR.
Choose a fixed monthly payment or a minimum-payment rule (% of balance plus a floor).
Review months to payoff, total interest, and total amount paid.

FAQ

Why does payoff take so long on minimum payments? Minimum payments mostly cover interest early on, so principal drops slowly—especially at high APRs.

Does this include fees? No. Late fees, annual fees, and cash-advance charges are not modeled.

Disclaimer. This calculator is for informational purposes only and is not financial, tax, or lending advice. Actual issuer minimums, compounding rules, and promotional rates may differ. Verify terms with your card issuer or a qualified professional.