Months to zero at a fixed payment
Credit Card Payoff Calculator
A fixed payment against a revolving balance is a race between interest and principal. This simulates the balance month by month and tells you how many payments are left, and how much of them is interest.
How this is calculated
- Each month interest is added, then the payment is subtracted from the balance.
- The loop stops when the balance reaches zero, so the final payment can be smaller than the rest.
- If the payment is below the monthly interest, the balance never falls and the calculator says so.
Before you go
Why does the payoff take so long?
At 22% APR an $8,000 balance costs about $147 a month in interest alone, so only ~$100 of a $250 payment touches the principal at the start.
Snowball or avalanche?
Avalanche (highest APR first) minimises interest; snowball (smallest balance first) produces quicker wins. The difference matters less than keeping the total payment constant.
What about a balance transfer?
A 0% transfer can pause the interest, but the fee is usually 3-5% of the balance and the rate jumps if the balance is not cleared before the promo ends.
Estimation only. Rates, taxes and fees in your actual offer will differ, and this tool is not financial advice or a loan quote.