Debt Payoff Calculator
Find how many monthly payments clear a balance at a fixed rate. Compare paying more and see total interest without adding new borrowing.
Months to debt-free
Estimated payoff: June 2029 (starting this month)
Fixed APR and payment; no new charges or fees. Interest applied monthly; actual cards often use daily balances.
Compare monthly payments
Same balance and APR, no new purchases or fees. The final payment can be smaller.
| Monthly payment | Months | Interest | Interest saved |
|---|---|---|---|
| $200.00 | 32 | $1,313.96 | $0.00 |
| $250.00 | 24 | $989.13 | $324.83 |
| $300.00 | 20 | $797.17 | $516.79 |
| $400.00 | 14 | $578.63 | $735.34 |
Formula checked · NumberSwift · Review process
For informational purposes only. Results are estimates and do not constitute financial advice.
How this calculator works
Each month, interest is added to the outstanding balance before the fixed payment is subtracted. The final payment can be smaller than your regular amount. If the payment does not exceed the starting monthly interest, the balance will not fall under these assumptions, so the calculator asks for a higher payment.
Formula
balance next month = balance × (1 + APR / 12) − payment
Assumptions & limitations
Fixed APR and payment; no new charges or fees. Interest applied monthly; actual cards often use daily balances.
Sources & reference material
- CFPB: credit card interest ↗
Actual statements can use daily balances; this tool uses a simplified monthly model.
Worked example
A $5,000 balance at 0% with a fixed $200 monthly payment takes 25 months. At a positive rate, part of each payment covers interest, so the same payment takes longer; compare the larger-payment rows to see the difference.
If you know the term but need a monthly payment, use the Loan Calculator to solve the reverse problem.
Our approach to calculations ↗Common questions
Why is my payment rejected?
A payment no larger than the starting monthly interest does not reduce the balance under the fixed-rate model. Increase the payment.
Will the last payment be the full amount?
Usually not. The model pays only the remaining balance and final month’s interest when that is below the regular payment.
Does the payoff month guarantee a settlement date?
No. It is a calendar estimate starting this month. Statement timing, daily interest, fees and new borrowing can change it.