Credit Card Payoff Calculator
Use this calculator to see what it will take to pay off your credit
card balance, and what you can change to meet your repayment goals.
Definitions
Current balance
Current outstanding balance on your credit card.
Payoff goal (in months)
Your goal for paying off this credit card. This is the number of months in which you would like to completely pay off this credit card
balance.
Current monthly payment
The amount you are currently paying per month on this credit card.
Please enter the amount you actually pay, not the minimum payment. This
amount is used to calculate how long it will take you to pay off your
balance.
Planned additional monthly charges
Total new charges you expect to put on this credit card per month.
Interest rate (APR)
The annual percentage rate being charged for this credit card.
Annual fee
Your annual fee for this credit card, if any.
Major purchase
If you expect a major purchase beyond your normal charges, enter the amount to be spent here.
Months from now
Number of months before your major purchase will occur.
Information and interactive calculators are made available to you as
self-help tools for your independent use and are not intended to
provide investment advice. We cannot and do not guarantee their
applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes. We
encourage you to seek personalized advice from qualified professionals
regarding all personal finance issues.
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