What will it take to pay off my credit card?
Enter your credit card balance and interest rate. Next enter the monthly payment you can afford, OR desired number of months to be debt-free. Leave the other field blank. Click calculate to get the results.
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Definitions
Credit Card balance
Current outstanding balance on your credit card.
Interest rate (APR)
The annual percentage rate for this credit card.
Payment amount per month
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.
Desired months until debt free
Your goal for paying off this credit card. This is the number of months by which you would like to have completely paid off this credit card balance.
Results and information provided by this calculator are made available to you as a self-help tool for your independent use and are not intended to provide investment advice. We can not 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.