Simple Credit Card Payoff Calculator [Updated]

This simple credit card payoff calculator will help you determine how quickly you can pay off your credit cards by paying extra each month!

Using The Credit Card Payoff Calculator

To use the calculator, use only one credit card at a time and follow these steps:

  • Enter the current balance of one of your credit cards
  • Enter the current interest rate on your card

The calculator will give you the approximate amount you are paying in interest each month when you do this.  To see how quickly you can pay off your credit card, there are two options:

  • Enter the total monthly amount you can afford to put toward your credit card in the “Monthly Payment” box


  • Enter how many months you want to give yourself to pay off your credit card. The calculator will tell you how much you need to pay each month on the credit card to make that happen!

What Should I Do With My Results?

Now that you know how long it will take to pay off your credit card or how much you need to pay each month to get out of debt, there are a few steps you need to follow.

The credit card calculator only gives you the necessary information to make a plan.

Getting out of debt requires a plan – and a way to achieve your goal of becoming debt free!

Follow These Steps To Pay Off Your Credit Card Debt

The 0% Interest Struggle

If you have been playing the shuffle game where you move your credit card balance from one card to another with 0% interest – it’s time to stop. 

Stop wasting time and spending all your energy applying for new credit cards. The time to break this debt cycle starts now. 

If you need more information, I wrote this detailed article about the best way to pay off $10,000 in credit card debt. No more interest-only games, no more holding onto this debt. The time for financial freedom is now – and you can do it!