Work out credit card payoff time instantly with clear inputs, formula shown and shareable results.
Card interest compounds monthly at a rate near 3%, so the payoff time depends sharply on how far the payment exceeds the interest charge. Anything close to the minimum leaves the balance almost untouched for years.
Payoff months
n = -ln(1 - B·r/payment) / ln(1 + r)
Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.
A minimum is usually just above the interest charge, so only a sliver goes to principal each month.
Slightly, because average daily balance falls. The bigger lever is simply paying more.