Credit Card Payoff Calculator
How long a card balance really takes to clear at a fixed payment — computed the way issuers charge interest, on the daily balance, in 30-day cycles. The model is printed on the page.
Computed the way the issuer computes it
Most payoff calculators charge interest monthly on the balance. Issuers charge it daily: each cycle's interest is the average daily balance times the APR divided by 365, times the days in the cycle. This page publishes its model openly and uses it: 30-day cycles, interest on the balance, payment applied at cycle end.
Cycle interest = balance × APR ÷ 365 × 30 · then your payment comes off
Example: $5,000 at 24% APR paid at $200 a month: 35 cycles to clear, and the interest totals $1,957.86 — nearly 40 cents of interest for every dollar of the original balance, at a payment many people would call aggressive.
The two levers, and their real sizes
Payment size is the lever you control; APR is the lever you negotiate, transfer or refinance. On typical balances the payment lever dominates: going from $150 to $250 a month on the example above deletes roughly a year of payments. Run both versions of your own card — the difference is the value of the decision.
How this is calculated
The published model: interest for each 30-day cycle = balance × (APR ÷ 365) × 30, with the entered balance standing in for the cycle's average daily balance; the payment is then applied at the cycle's end and the final payment is trimmed to the exact remainder. Real issuers average the true daily balances (so mid-cycle payments help slightly more than shown) and cycles run 28–31 days; figures here are faithful to the stated model, and the model is stated so you can judge it.
Frequently asked questions
Why does my statement's interest differ slightly?
Your issuer averages your actual daily balance across the real cycle length, and your payments land mid-cycle, lowering the average. This model uses the balance and uniform 30-day cycles — close, and honest about its simplifications.
Does paying twice a month help?
Yes, slightly: it lowers the average daily balance within each cycle. The effect is small next to paying more in total, but it is real and free.
What if my payment does not cover the interest?
The balance grows — the calculator refuses the run and tells you the payment must exceed the first cycle's interest (balance × APR ÷ 365 × 30) for any payoff date to exist.
Is a payoff plan better than a balance transfer?
Different tools: the plan costs interest but no fee and no deadline; the transfer costs a fee and bets you finish inside the promo. The balance-transfer calculator prices the other path on the same model.
Embed this calculator
Writing about money — a blog, a school page, a community site? Put this calculator on your page, free: copy the code below and paste it where you want the calculator to appear. It stays up to date automatically — the small credit line underneath is all we ask in return.
CalcPrincipal