See how long it takes to pay off a credit card balance at a set payment.
Card interest accrues monthly on the remaining balance, so the payoff time depends on how much of each payment goes beyond interest. Paying more than the minimum dramatically shortens the term and total interest. Credit card debt compounds interest at high rates, so the payoff timeline is the clearest motivation to pay significantly above the minimum.
Credit Card Payoff
Months = -ln(1 - r x B / P) / ln(1 + r)
Months = -ln(1 - r x B / P) / ln(1 + r) Card interest accrues monthly on the remaining balance, so the payoff time depends on how much of each payment goes beyond interest. Paying more than the minimum dramatically shortens the term and total interest.
Credit card debt compounds interest at high rates, so the payoff timeline is the clearest motivation to pay significantly above the minimum.
This calculator takes 3 inputs: Balance, Annual interest rate, Monthly payment. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.