Loans
Debt Payoff Calculator
See when you could be debt-free and how extra payments help.
Use CalculatorCredit Card Payoff Calculator
Compare paying only the minimum with paying a fixed amount each month, and see when your balance could reach zero.
How it works
Each month interest is added at APR ÷ 12, then your payment is subtracted.
Minimum mode recalculates the payment as a percentage of the current balance, never below the floor you set.
Fixed mode pays the same amount every month until the balance is cleared.
Formula & methodology
Balance(next) = Balance × (1 + APR ÷ 12) − payment
If the payment does not exceed the monthly interest, the balance can't be paid off and no payoff date is shown.
Assumes no new purchases and a constant APR.
Illustrative example
$6,000 at 22.9% APR
Paying a fixed $250 a month clears the balance in about 33 months.
Paying only 3% of the balance (minimum $35) takes much longer and costs far more interest.
Hypothetical figures for illustration only.
Frequently asked questions
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