Credit Card Payoff Calculator
See exactly how long it’ll take to pay off your credit card debt — and how much you’d save with a lower-rate consolidation loan instead. No email required, no signup.
Default shown is the 2025 national average — change it to your own balance.
Default is the Q1 2026 national average. Check your statement for your actual rate.
Estimate only. Assumes a fixed APR and no new charges added to the balance. Actual payoff may vary based on your card’s compounding method and any rate changes.
How a Consolidation Loan Could Compare
Credit cards carry some of the highest interest rates of any consumer debt. A fixed-rate consolidation loan often cuts that rate significantly — here’s what that could mean for your numbers above.Calculate your payoff above to see a side-by-side comparison with a consolidation loan.
| Compare Consolidation Loans → | See Balance Transfer Cards → |
Frequently Asked Questions
How is credit card interest actually calculated?
Most credit cards use daily compounding interest based on your average daily balance. This calculator simplifies that into a standard monthly amortization estimate, which is accurate enough for planning purposes but may differ slightly from your exact statement.
Why does a consolidation loan save money even with fees?
Credit cards average 21.52% APR nationally, while consolidation loans for borrowers with fair-to-good credit often range from 8–14% APR. Even after accounting for origination fees, the lower rate typically saves more in interest than the fee costs — especially on balances carried for a year or more.
What if I can only afford the minimum payment?
If your monthly payment barely covers the interest, the calculator will flag this — paying only the card’s minimum can mean years of payments with very little progress on the actual balance. In that case, a consolidation loan or debt relief program may be worth exploring.
Default rate figures: Federal Reserve G.19 (Q1 2026) for credit card APR; Experian “Average Credit Card Debt by Age in 2025” for default balance. This tool provides estimates for educational purposes and is not financial advice.