Estimate how long a fixed payment takes to clear a card balance without new purchases.
Printed from Calxy · https://www.calxy.net/financial/credit-card-payoff-calculator
0 – 10000000000
0 – 100
0.01 – 10000000000
Time to pay off
26.0000 months
No new purchases or fees. Actual cards may use daily interest and changing minimum payments.
Each month: interest = remaining balance × APR ÷ 12.
Apply the fixed payment after interest and stop at zero.
At each month-end, add balance × APR ÷ 12, subtract the payment, and repeat. Trim the final payment to the remaining balance and interest. Payments that do not reduce principal are rejected.
A $1,000 balance at 0% APR with $300 monthly payments clears in four months: $300, $300, $300 and $100. There is no interest in this example.
Cards may accrue interest daily, change APRs, add fees or change minimum payments. This model uses a fixed APR and a fixed monthly payment; it is not a minimum-payment forecast.
Last updated . Results are estimates for informational purposes only.