Credit card payoff estimate
Credit card payoff calculator with monthly amortization schedule
Compare credit-card payoff time and interest, then view a complete monthly amortization schedule for an entered fixed payment.
Compare a steady payment equal to the minimum shown on your current statement with a larger fixed monthly payment. The chosen-payment scenario includes a complete month-by-month amortization schedule and total modeled interest. Your values stay in this browser. This is a scenario estimate, not your issuer's payment calculation.
Enter the current statement values and a fixed payment to compare.
Both scenarios hold the entered monthly dollar payment constant through payoff; the minimum scenario is a proxy based on the amount due now, not a projection of future minimums. The model applies APR ÷ 12 monthly to the starting balance, assumes payment at month-end, no new purchases, fees, rate changes, or missed payments, and caps the last payment at the remaining balance plus interest. The complete schedule is shown for the chosen fixed payment; the comparison proxy shows its first 12 months. Your issuer's terms and daily-balance method can produce different results.
Why the estimate differs from your statement
Credit-card issuers calculate the required minimum under the account terms. This tool does not try to recreate that formula: it uses the minimum shown on the statement you enter as the same dollar payment each month. If your actual minimum declines over time, this steady-payment scenario may pay the balance sooner than paying only the changing minimum.
The CFPB explains that statement payoff estimates use the current balance and assume no further charges, and that paying more each month reduces interest over time. Reviewed November 3, 2026.
For several debts, compare snowball and avalanche payoff strategies. For card debt options, read the balance transfer vs. debt consolidation guide.
Considering a transfer offer? Use the balance transfer cost calculator to compare its fee and promotional period under the same monthly budget.
To calculate per-card and combined balance-to-limit ratios and model paydown to a level you select, use the credit utilization planner.
How it works
Enter your current card balance, APR, statement minimum, and a fixed monthly payment. Compare payoff estimates and expand the complete schedule for the chosen fixed payment.
Good to know
Does this calculate my issuer's required minimum each month?
No. It holds the statement minimum you enter constant as a comparison proxy. Issuers calculate future minimums under account terms, which can vary; check each statement and card agreement.
What assumptions does the estimate use?
It applies APR divided by 12 to the starting balance each month, assumes payment at month-end, no new charges, fees, missed payments, or rate changes, and caps the final payment at the amount due. Actual daily-balance calculations and account terms may differ.
Why might my statement's payoff estimate differ?
The CFPB says statement estimates are based on the current balance and assume no further charges. This tool also holds the entered minimum dollar amount steady instead of recalculating a required minimum each month.
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