Use our credit card payoff calculator to visualize your debt-free timeline, reduce interest, and regain control of your finances with confidence and clarity.
Ready to get serious about paying off debt? Here's how to use the calculator:
Credit card debt can grow rapidly due to compounding interest, and managing it efficiently requires knowledge of how amortization works. This tool gives you a comprehensive simulation of your payoff plan, including how interest and principal change month-to-month.
Monthly Interest = (APR / 12) × Remaining BalancePrincipal = Monthly Payment - Monthly InterestNew Balance = Previous Balance - Principal PaidThis process repeats until your balance reaches zero.
Take charge of your debt—try the calculator now and get one step closer to financial freedom!
| Month | Payment ($) | Interest ($) | Principal ($) | Remaining Balance ($) |
|---|---|---|---|---|
| 1 | $50.00 | $75.00 | -$25.00 | $10,025.00 |
| 2 | $200.00 | $150.38 | $49.62 | $9,975.38 |
| 3 | $200.00 | $149.63 | $50.37 | $9,925.01 |
| 4 | $200.00 | $148.88 | $51.12 | $9,873.89 |
| 94 | $85.34 | $1.28 | $84.06 | $0.00 |
| Parameter | Value |
|---|---|
| Credit Card Balance | $10,000.00 |
| APR | 18% |
| Monthly Payment | $200.00 |
| Payoff Period | Estimated 94 months |
| Total Interest | $8,764.00 (example) |