Credit Card Payoff Calculator

Enter your credit card info below and find out how long it will take to pay off your debt.

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You will be debt-free by

May 2017

or, 0 months (0 payments)


Total amount you'll pay


0% interest


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Credit card and loan terms you should know

Balance Transfer

The process of moving all or part of the outstanding balance on one credit card to another account. Credit card companies often offer special rates for balance transfers.

Interest Rate

A measure of the cost of credit, expressed as a percent. For variable-rate credit card plans, the interest rate is explicitly tied to another interest rate. The interest rate on fixed-rate credit card plans, though not explicitly tied to changes in other interest rates, can also change over time.

Debt Consolidation

A process of combining debts into one loan or repayment plan. Debt consolidation can be done on your own, with a financial institution or through a counseling service. Student loans are often consolidated in order to secure a lower interest rate.

Utilization Ratio

The ratio between the credit limits on your accounts and the outstanding balances. This ratio shows lenders how much of your available credit you are using overall.

Minimum Payment

The minimum amount that a credit card company requires you to pay toward your debt each month.

Negative Amortization

When your minimum payment toward a debt is not enough to cover the interest charges. When this occurs, your debt balance continues to increase despite your payments.

Credit Card Balance

This is the amount of charges owed to the credit card company. You should be able to find your most recent balance on your credit card statement.


APR stands for Annual Percentage Rate. Credit card companies must show customers the APR to facilitate a clear understanding of the actual rates applicable to their agreements.

Monthly Payment

This is the amount you are going to pay and not necessarily your monthly minimum payment. However, this amount should be at least your monthly minimum payment to remain in good standing with the credit card company.