Credit Card Payoff Time Calculator

See how long it could take to pay off a card with a fixed monthly payment. Gentle defaults, fully client-side.

Inputs

Currency: £ Mode: Fixed payment
Payment mode

Results

Months to payoff
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Estimated payoff date
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Total interest (projection)
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Total paid
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Total Principal vs Projected Interest
Principal (starting balance) Projected interest
Amortization (first 24 months)
Month Payment Interest Principal End Balance

How this calculator works

We simulate your balance month-by-month using your APR. Each cycle, we add interest, include any new charges (optional), apply your fixed payment (or a solved payment amount), and reduce the balance. The solver searches for the smallest payment that pays the card off within your target months.

Formulas (simplified)

  • Monthly rate ≈ APR / 12
  • Monthly interest = balance × monthly rate
  • Payment rule: payment is capped so it never exceeds the amount due (balance + interest + new charges)
  • Payment first covers interest, remainder reduces principal

Actual issuer calculations may differ (e.g., daily interest, fees). Always check your statement.

Informational only — not financial advice.

Tips to reach your payoff goal

  • Pay more than the minimum: Small increases can remove months from the timeline.
  • Pause new spending: Helps every pound/dollar reduce principal.
  • Consider rate reduction options: Lower APRs (incl. promos/balance transfers) reduce total interest.
  • Automate: Automatic payments help avoid missed due dates and late fees.

This content is informational only and not financial advice.

5 Fun Facts about Card Payoffs

Mid-cycle payments shrink interest

Issuers charge interest daily on the average balance. Dropping a payment mid-cycle lowers the balance for the rest of the month—saving more than the same amount on the due date.

Timing win

Grace periods can vanish

Once you carry a balance, new purchases often start accruing interest immediately until you fully pay off again. Revolving one month can make next month pricier.

Hidden cost

Transfer fees mimic interest

A 3% balance transfer fee on a 12-month 0% promo is roughly like paying ~3% APR upfront—great if you finish on time, expensive if you don’t.

Promo math

Rounding up pays off big

Rounding a £75 payment to £100 on a £1,500 balance at 25% APR can cut months off payoff; tiny overpayments compound faster than they feel.

Small boosts

Statement date is the “snapshot”

The balance on your statement date anchors interest for that cycle and drives minimums. A lump payment right before closing date can reduce both.

Cycle hack

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