Credit Card Payoff Calculator: Debt-Free Date
CREDIT CARD PAYOFF CALCULATOR
Clear the card.
Sooner.
See how long your credit card will take to clear, how much interest it will cost, and how much faster a fixed payment gets you there.
Thinking of a loan instead? Compare with a fixed-rate personal loan.
Loan repayment calculatorBEHIND YOUR NUMBER
A little understanding
goes a long way.
Why do minimum payments take so long?
Minimum payments are usually about 1% of the balance plus interest, or a set percentage. As the balance falls, so does the payment, which stretches repayment over many years.
What about 0% balance transfers?
Moving debt to a 0% card can save a lot of interest, but there is usually a fee of around 3%, and the rate jumps when the offer ends.
Is this financial advice?
No. These are estimates to help you plan and compare options. Rates, fees and tax rules change, so check the details with your provider or an independent financial adviser before making decisions.