How long will it take to pay off my credit card?

Use this calculator to determine how long it will take to pay off your credit card balance based on your minimum monthly payment (assuming you stop putting new charges on the card, of course).

See how paying a little more than the minimum payment can shrink your credit card debt. Just add the extra amount you plan to pay each month—you'll be surprised how it can help!

Credit Card Information
Current credit card balance ($) 
Annual percentage rate (%) 
Minimum payment percentage (%) 
Minimum payment amount ($) 
Extra amount monthly ($) 
Desired table display 

Minimum Payment Percentage: This is the percent of your outstanding balance that will be used to calculate your minimum payment for the month.

Minimum Payment Amount: Your monthly payment is calculated as the percent of your current outstanding balance you entered, but will never be less than $15. Your monthly payment will decrease as your balance is paid down. This can greatly increase the length of time it takes to pay off your credit cards.

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

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