Budget & Credit · card payoff planner

Credit Card Payoff Calculator

A card-specific payoff simulator: up to 20 cards with the minimum-payment rules issuers actually use — recalculated every month — plus promo APRs, annual fees, credit utilization, five payoff orders, and an honest minimum-only baseline including “Never”. Test a balance transfer, solve the payment a card-free date requires, and export the whole plan as a 9-sheet Excel workbook. Works in any currency.

Transparent assumptions Not an issuer quote Up to 20 cards Download XLSX Works on any device
Plan my payoff How the math works
What this tool shows
  • Per-card issuer-style minimums — fixed, % of balance, % + interest, or greater-of — recalculated every month
  • Credit utilization per card and overall, with the month it falls below 30%
  • Promo APRs with end months, annual fees, and optional monthly new charges
  • Five strategies — avalanche, snowball, highest minimum, highest utilization, custom — plus the minimum-only baseline
  • Fixed-total roll-down, target vs proportional extra allocation, weekly/bi-weekly budgets
  • Card-free-by-date solver: the monthly amount a deadline requires
  • A balance-transfer scenario with fee, intro window, break-even month, and an honest verdict
  • Month-by-month schedules and a formula-checked 9-sheet Excel workbook

Educational estimate only — never an issuer payoff quote, never financial or credit advice.

Credit card minimums shrink as your balance falls — that is why minimum-only payoff takes decades and sometimes never finishes. The fix is mechanical: pay a fixed amount instead, and point every spare unit at one target card. This calculator simulates your actual cards month by month — issuer-style minimums, promo APRs, annual fees, utilization — and shows your payoff date, total interest, and whether a balance transfer genuinely helps.

Interactive credit card payoff calculator

Avalanche3 cardsUtilization 60.6%

Everything runs in your browser — nothing you type is stored or sent anywhere. Do not enter card numbers or account details; nicknames like “Rewards card” are enough.

Formats numbers only — issuer rules vary by country.

Your cards (3/20)

$
%
$

Utilization 62.5%

Issuer minimums usually recalculate monthly as the balance changes.

%
$
More options (promo APR, annual fee, new charges)
%

E.g. 0% intro offer.

0 = no promo.

$

Posts in month 1, then every 12 months.

$

Counted only when the toggle below is on.

$
%
$

Utilization 72%

Issuer minimums usually recalculate monthly as the balance changes.

%
$
More options (promo APR, annual fee, new charges)
%

E.g. 0% intro offer.

0 = no promo.

$

Posts in month 1, then every 12 months.

$

Counted only when the toggle below is on.

$
%
$

Utilization 53.3%

Issuer minimums usually recalculate monthly as the balance changes.

%
$
More options (promo APR, annual fee, new charges)
%

E.g. 0% intro offer.

0 = no promo.

$

Posts in month 1, then every 12 months.

$

Counted only when the toggle below is on.

Targets highest APR.

Targeting one card retires it sooner; the comparison shows the cost of each order.

Payment budget

$

First-month minimums: $222 (recalculated monthly).

Bi-weekly/weekly amounts convert to a monthly equivalent (×26÷12, ×52÷12).

Balance transfer scenario (optional)

Compares moving a balance to a promo-rate card (fee included) against keeping it at your cards’ blended APR with the same payment. Approval and limits are never guaranteed.

Debt-free date

32 months (2.7 yr)

February 2029

$10,000 across 3 cards · paying $422/month to start · blended APR 22.93%.

Total interest

$3,208.95

Total paid $13,209.

vs minimum-only

Baseline: never

Issuer-style minimums shrink with the balance — the baseline shows that honestly.

First card cleared

Month 8

Store card — your first win.

Utilization

60.6%

Drops below 30% in month 19. Highest: Store card (72%).

What your numbers say

  • Your highest-cost card right now is Store card at 28% APR — extra payments aimed there usually save the most interest.
  • Avalanche saves $131 in interest compared with snowball on these cards.
  • On minimum payments alone, at least one balance never falls — issuer-style minimums shrink as the balance shrinks, which stretches payoff for decades.
  • Total utilization is 60.6% — paying balances down reduces it over the plan (credit-score effects are never guaranteed).

Educational observations — not financial, credit, or debt advice. If card debt feels unmanageable, a qualified nonprofit credit counselor can help.

Strategy comparison

Same cards, same budget — only the payoff order changes.

Minimum-only

Debt-free
Never (not amortizing within 50 years)
Months
—
Total interest
—
Saved vs min.
—
First win
Month 170
Best for
Baseline

Snowball

Debt-free
February 2029
Months
32
Total interest
$3,340.44
Saved vs min.
—
First win
Month 8
Best for
Fastest first win

AvalancheSelected

Debt-free
February 2029
Months
32
Total interest
$3,208.95
Saved vs min.
—
First win
Month 8
Best for
Targets highest APR

Highest minimum

Debt-free
February 2029
Months
32
Total interest
$3,461.75
Saved vs min.
—
First win
Month 26
Best for
Frees cash flow fastest

Highest utilization

Debt-free
February 2029
Months
32
Total interest
$3,374.21
Saved vs min.
—
First win
Month 29
Best for
Reduces utilization fastest

Custom

Debt-free
February 2029
Months
32
Total interest
$3,379.78
Saved vs min.
—
First win
Month 20
Best for
Your priority order

Minimum-only

Never (not amortizing within 50 years)

Months
—
Total interest
—
Saved vs min.
—
First win
Month 170

Baseline

Snowball

February 2029

Months
32
Total interest
$3,340.44
Saved vs min.
—
First win
Month 8

Fastest first win

AvalancheSelected

February 2029

Months
32
Total interest
$3,208.95
Saved vs min.
—
First win
Month 8

Targets highest APR

Highest minimum

February 2029

Months
32
Total interest
$3,461.75
Saved vs min.
—
First win
Month 26

Frees cash flow fastest

Highest utilization

February 2029

Months
32
Total interest
$3,374.21
Saved vs min.
—
First win
Month 29

Reduces utilization fastest

Custom

February 2029

Months
32
Total interest
$3,379.78
Saved vs min.
—
First win
Month 20

Your priority order

Balance over time

Your plan (starts at $9,769)Minimum-only baseline
Per-card results

Rewards card

Paid off
Month 24
Date
June 2028
Interest paid
$1,590.55
Total paid
$6,590.55
Below 30% util.
Month 17

Store card

Paid off
Month 8
Date
February 2027
Interest paid
$189.41
Total paid
$1,989.41
Below 30% util.
Month 5

Travel card

Paid off
Month 32
Date
February 2029
Interest paid
$1,428.99
Total paid
$4,628.99
Below 30% util.
Month 27
Month-by-month totals (first 24 months)

1

Date
July 2026
Paid
$422.25
Remaining balance
$9,768.84
Cumulative interest
$191.09
Utilization
59.2%

2

Date
August 2026
Paid
$422.25
Remaining balance
$9,532.38
Cumulative interest
$376.88
Utilization
57.8%

3

Date
September 2026
Paid
$422.25
Remaining balance
$9,290.52
Cumulative interest
$557.27
Utilization
56.3%

4

Date
October 2026
Paid
$422.25
Remaining balance
$9,043.11
Cumulative interest
$732.11
Utilization
54.8%

5

Date
November 2026
Paid
$422.25
Remaining balance
$8,790.04
Cumulative interest
$901.29
Utilization
53.3%

6

Date
December 2026
Paid
$422.25
Remaining balance
$8,531.17
Cumulative interest
$1,064.67
Utilization
51.7%

7

Date
January 2027
Paid
$422.25
Remaining balance
$8,266.36
Cumulative interest
$1,222.11
Utilization
50.1%

8

Date
February 2027
Paid
$422.25
Remaining balance
$7,995.47
Cumulative interest
$1,373.47
Utilization
48.5%

9

Date
March 2027
Paid
$422.25
Remaining balance
$7,718.63
Cumulative interest
$1,518.88
Utilization
46.8%

10

Date
April 2027
Paid
$422.25
Remaining balance
$7,436.52
Cumulative interest
$1,659.02
Utilization
45.1%

11

Date
May 2027
Paid
$422.25
Remaining balance
$7,149.03
Cumulative interest
$1,793.78
Utilization
43.3%

12

Date
June 2027
Paid
$422.25
Remaining balance
$6,856.06
Cumulative interest
$1,923.06
Utilization
41.6%

13

Date
July 2027
Paid
$422.25
Remaining balance
$6,557.50
Cumulative interest
$2,046.75
Utilization
39.7%

14

Date
August 2027
Paid
$422.25
Remaining balance
$6,253.26
Cumulative interest
$2,164.76
Utilization
37.9%

15

Date
September 2027
Paid
$422.25
Remaining balance
$5,943.22
Cumulative interest
$2,276.97
Utilization
36%

16

Date
October 2027
Paid
$422.25
Remaining balance
$5,627.26
Cumulative interest
$2,383.26
Utilization
34.1%

17

Date
November 2027
Paid
$422.25
Remaining balance
$5,305.28
Cumulative interest
$2,483.53
Utilization
32.2%

18

Date
December 2027
Paid
$422.25
Remaining balance
$4,977.15
Cumulative interest
$2,577.65
Utilization
30.2%

19

Date
January 2028
Paid
$422.25
Remaining balance
$4,642.77
Cumulative interest
$2,665.52
Utilization
28.1%

20

Date
February 2028
Paid
$422.25
Remaining balance
$4,302.01
Cumulative interest
$2,747.01
Utilization
26.1%

21

Date
March 2028
Paid
$422.25
Remaining balance
$3,954.74
Cumulative interest
$2,821.99
Utilization
24%

22

Date
April 2028
Paid
$422.25
Remaining balance
$3,600.85
Cumulative interest
$2,890.35
Utilization
21.8%

23

Date
May 2028
Paid
$422.25
Remaining balance
$3,240.21
Cumulative interest
$2,951.96
Utilization
19.6%

24

Date
June 2028
Paid
$422.25
Remaining balance
$2,872.69
Cumulative interest
$3,006.69
Utilization
17.4%
Month 1 · July 2026$9,768.84
Paid $422.25 · Interest $191.09 · Util 59.2%
Month 2 · August 2026$9,532.38
Paid $422.25 · Interest $376.88 · Util 57.8%
Month 3 · September 2026$9,290.52
Paid $422.25 · Interest $557.27 · Util 56.3%
Month 4 · October 2026$9,043.11
Paid $422.25 · Interest $732.11 · Util 54.8%
Month 5 · November 2026$8,790.04
Paid $422.25 · Interest $901.29 · Util 53.3%
Month 6 · December 2026$8,531.17
Paid $422.25 · Interest $1,064.67 · Util 51.7%
Month 7 · January 2027$8,266.36
Paid $422.25 · Interest $1,222.11 · Util 50.1%
Month 8 · February 2027$7,995.47
Paid $422.25 · Interest $1,373.47 · Util 48.5%
Month 9 · March 2027$7,718.63
Paid $422.25 · Interest $1,518.88 · Util 46.8%
Month 10 · April 2027$7,436.52
Paid $422.25 · Interest $1,659.02 · Util 45.1%
Month 11 · May 2027$7,149.03
Paid $422.25 · Interest $1,793.78 · Util 43.3%
Month 12 · June 2027$6,856.06
Paid $422.25 · Interest $1,923.06 · Util 41.6%
Month 13 · July 2027$6,557.50
Paid $422.25 · Interest $2,046.75 · Util 39.7%
Month 14 · August 2027$6,253.26
Paid $422.25 · Interest $2,164.76 · Util 37.9%
Month 15 · September 2027$5,943.22
Paid $422.25 · Interest $2,276.97 · Util 36%
Month 16 · October 2027$5,627.26
Paid $422.25 · Interest $2,383.26 · Util 34.1%
Month 17 · November 2027$5,305.28
Paid $422.25 · Interest $2,483.53 · Util 32.2%
Month 18 · December 2027$4,977.15
Paid $422.25 · Interest $2,577.65 · Util 30.2%
Month 19 · January 2028$4,642.77
Paid $422.25 · Interest $2,665.52 · Util 28.1%
Month 20 · February 2028$4,302.01
Paid $422.25 · Interest $2,747.01 · Util 26.1%
Month 21 · March 2028$3,954.74
Paid $422.25 · Interest $2,821.99 · Util 24%
Month 22 · April 2028$3,600.85
Paid $422.25 · Interest $2,890.35 · Util 21.8%
Month 23 · May 2028$3,240.21
Paid $422.25 · Interest $2,951.96 · Util 19.6%
Month 24 · June 2028$2,872.69
Paid $422.25 · Interest $3,006.69 · Util 17.4%

The Excel download has the per-card schedule month by month (first 240 months for very long plans; the full horizon is summarized in its Charts Data sheet).

Download your payoff plan workbook

Exports your card inputs, strategy comparison, month-by-month payoff schedule, per-card breakdown, balance-transfer scenario, chart data, methodology, and disclaimer.

Generated in your browser from the numbers you entered — no sign-in, no email, nothing stored or sent to a server. Found an issue? Report it.

Jump to section

Quick answers

How long will it take to pay off my credit card?

It depends on the balance, the APR, and what you pay. This calculator simulates every month — interest accrues, the issuer-style minimum recalculates, extra money attacks one target card — and reports your payoff date. A fixed payment beats the shrinking minimum dramatically: minimums are designed to keep the account current, not to clear it.

Why do minimum payments take so long?

Most issuer minimums are a small percent of the balance (often 1–3%) or that percent plus interest. As the balance falls, the minimum falls with it, so the payment shrinks exactly when momentum should build. On a typical rate, minimum-only payoff takes decades — and when the formula pays less than monthly interest, the balance never falls at all. Paying a fixed amount instead freezes your payment at its starting level.

Which card should I pay off first?

With fixed APRs, the highest-APR card first (avalanche) costs the least interest. The smallest balance first (snowball) clears a card fastest, which helps motivation. If your goal is a credit-score utilization boost, the card closest to its limit is a third sensible target. This tool compares all of them on your actual numbers.

How much do I need to pay to be card-free by a date?

Use the “Debt-free by date” mode: pick a target month and the calculator solves the total monthly payment that meets it under your chosen strategy — promo expirations, annual fees, and recalculating minimums included.

How to use this credit card payoff calculator

  1. Add your cards. Up to 20 cards with a nickname (never the card number), current balance, APR, and credit limit for utilization. Set each card’s minimum-payment rule — fixed, percent of balance, percent + interest, or greater-of — from your statement.
  2. Add card extras if you have them. A promotional APR with its end month (0% intro offers), an annual fee, and optional monthly new charges if you keep using the card.
  3. Set your payment budget. Minimums + extra, or one total amount. Budgets can be weekly or bi-weekly — they convert to monthly equivalents. Keep the total fixed so freed minimums roll into the next card.
  4. Choose a strategy. Avalanche (highest APR), snowball (smallest balance), highest minimum (cash-flow relief), highest utilization (credit-profile focus), or your own custom order.
  5. Check the balance-transfer scenario. If you are considering one, enter the amount, fee, intro APR and window, and the payment — the module shows the break-even month and whether the move helps on your numbers.
  6. Read the plan or target a date. Payoff date, total interest, savings vs minimum-only, utilization milestones, per-card results — or flip to “Debt-free by date” to solve the payment a deadline requires. Export everything as a 9-sheet Excel workbook.

The payoff math

Monthly interest

Monthly Rate = APR ÷ 100 ÷ 12 · Interest = Balance × Monthly Rate

Accrued monthly in this model; issuers typically accrue daily on the average daily balance.

Issuer-style minimum

Min = max(Floor, %×Balance) or %×Balance + Interest

Recalculated from the new balance every month — exactly why minimums decelerate.

Each simulated month

Balance + Charges + Fee + Interest − Minimum − Targeted Extra = New Balance

Payments cap at the balance — it never goes negative.

Single-card closed form

n = −log(1 − r·B/P) ÷ log(1 + r)

Months to zero at a constant payment P and one fixed rate. The on-page cross-check appears only when those assumptions hold (no promo, fee, new charges, or rounding).

Utilization

Utilization = Balance ÷ Credit Limit

Tracked per card and overall through the plan; the under-30% month is flagged.

Balance transfer

Start = Amount × (1 + Fee%) · Break-even: cum. savings ≥ Fee

Compared against the blended APR of your current cards at the same payment.

Card-free by date

Required Total = solve(months(total) ≤ target)

Bisection over the full simulation — promos, fees, and recalculating minimums included.

Simulation cap

600 months (50 years)

Plans that outlive the cap are reported as not amortizing, not rounded down.

Understanding credit card payoff

What this calculator does

It is a month-by-month credit card payoff simulator. Each simulated month, interest accrues on every card at its current APR (promo or standard), the issuer-style minimum payment is recalculated from the new balance, every minimum is paid, and whatever budget remains attacks one target card — chosen by your strategy. Annual fees post in month 1 and every 12 months after (the plan start counts as the fee anniversary); optional new charges are added if you enable them. When a card hits zero, its freed minimum can roll into the next target.

It stays deliberately card-specific: minimum-payment formulas that recalculate monthly, credit utilization, promotional windows, and the balance-transfer trade-off. If you are juggling loans and cards together, the debt payoff calculator is the better tool — this one goes deeper on cards.

The minimum payment trap, precisely

A typical issuer minimum is a small percent of the statement balance — commonly 1–3% — or that percent plus the month’s interest and fees, with a floor like 25–35. Because the formula tracks the balance, the payment shrinks as you pay down: progress decelerates by design. The arithmetic is worse at high APRs: when the formula yields less than the month’s interest, the balance grows instead of shrinking, and the account never amortizes.

The escape is mechanical, not motivational: pay a fixed amount — even the first month’s minimum, just held constant. The gap between a shrinking minimum and a frozen one compounds every month, which is why the baseline comparison in this tool is usually measured in years and thousands.

Choosing a payoff order for cards

Avalanche (highest APR first) costs the least interest when APRs are fixed; a promotional rate that expires mid-plan can change that order, which is why the comparison table computes your actual cheapest sequence rather than reciting a rule. Snowball (smallest balance first) buys early wins. Two card-specific orders are also worth knowing: highest minimum first frees up monthly cash-flow fastest, and highest utilization first pushes the card nearest its limit below the commonly cited 30% line soonest.

On identical budgets the orders usually differ by months and a few percent of interest — real money, but smaller than the gap between paying minimums and paying anything fixed. Pick the order you will sustain.

Balance transfers: the honest arithmetic

A balance transfer moves debt to a card with a 0% (or low) introductory APR, for an upfront fee — typically 3–5% — added to the transferred balance. The benefit is every month of avoided interest during the window; the costs are the fee, the post-promo APR on anything left, and the behavioural risk of refilling the now-empty old card.

The scenario module compares the transfer (fee included) against keeping the balance at your cards’ blended APR with the same monthly payment. It reports the break-even month, the balance remaining when the promo ends, and a verdict — including “not beneficial” when the fee outweighs the savings. Approval, limits, and terms are the issuer’s call, never guaranteed.

Utilization, scores, and what this tool does not promise

Credit utilization — balance ÷ limit, per card and overall — is widely described as a major scoring input, and keeping it under about 30% is the most-cited guideline. Paying down balances lowers utilization mechanically, and the per-card results here show when each card crosses below 30% and when it reaches zero.

What this tool will not do is promise a score change. Scoring models are proprietary, issuers report on different schedules, and utilization is one factor among many. Treat the utilization track as a progress meter, not a score forecast.

Worked examples

1. The minimum payment trap, measured

One card: 3,000 at 24.99% with a typical 1% + interest minimum (about 93 in month one). Paying only the recalculating minimum, the balance does not reach zero within 50 years — the shrinking formula barely outruns interest. Paying a flat 150/month instead clears the same card in 27 months with about 921 of interest. Same card, same rate; the only difference is refusing to let the payment shrink.

2. Three cards, one budget — comparing the orders

The sample data: 5,000 at 22.99%, 1,800 at 27.99%, and 3,200 at 19.99% (greater-of minimums, about 222 in month one) with 150/month extra and fixed-total roll-down. Avalanche and snowball both finish in 38 months with a first card cleared in month 10 — but avalanche pays 3,876 of interest versus snowball’s 4,032, a 156 saving for identical effort. Minimums alone never finish within 50 years. Overall utilization starts at 60.6% and falls to zero at payoff.

3. A balance transfer that actually helps

Transferring 3,000 at a 3% fee (90, added upfront) to a 0% intro APR for 15 months, paying 220/month: the transfer clears in 15 months at a total cost of just the 90 fee. Keeping the same 3,000 at the cards’ blended APR with the same payment would cost about 509 of interest over 16 months — the transfer saves roughly 419 and breaks even in month 2. The verdict flips if the payment is too small to beat the promo window.

All examples are educational estimates computed by this page’s engine with monthly compounding, issuer-style minimum recalculation, and fixed-total roll-down.

Assumptions, methodology & limitations

Methodology & assumptions

  • Interest accrues monthly at APR ÷ 12 on the current balance; issuers typically accrue daily on the average daily balance, so statements will differ slightly.
  • Minimum payments are recalculated every month from your card’s rule — fixed, % of balance, % + interest, or greater-of — the way issuer formulas work.
  • Promotional APRs apply through their end month, then revert to the standard APR. Annual fees post in month 1 and every 12 months after — the plan start counts as each card’s fee anniversary.
  • New purchases are assumed to be zero unless you enable per-card monthly new charges. Payments are on time; late fees and penalty APRs are not auto-modeled.
  • Final payments cap at the remaining balance — schedules end at exactly zero, never negative.
  • The balance-transfer scenario compares against your cards’ blended APR; approval, limits, and exact terms are the issuer’s decision.
  • The simulation caps at 600 months; anything longer reports as not amortizing rather than a fake date.
  • Nothing you enter is stored or sent anywhere — the simulation and the Excel export run entirely in your browser. Never enter card numbers; nicknames are enough.

Limitations

  • Not an issuer payoff quote — the official payoff amount, interest, and minimum on any date come from your card issuer.
  • Grace periods, daily compounding, payment-allocation rules on multi-rate balances, and country-specific regulations are simplified to a monthly model.
  • Utilization is shown as a progress meter; no credit-score outcome is promised or predicted.
  • No consolidation, settlement, or bankruptcy advice — those are separate decisions for qualified humans.

Adjacent tools: juggling cards and loans together lives in the debt payoff calculator; fit the payment into your month with the budget calculator; compare borrowing costs with the APR calculator.

Frequently asked questions

What is a credit card payoff calculator?

A tool that simulates paying off one or more credit cards month by month — interest accruing at each card’s APR, issuer-style minimums recalculating as balances fall, extra money targeted by a strategy — and reports your payoff date, total interest, and savings versus paying minimums only.

How are credit card minimum payments calculated?

Issuers typically use a small percent of the balance (often 1–3%), that percent plus the month’s interest and fees, or a flat floor amount — whichever is greater. The exact formula is in your cardholder agreement. This calculator models all of these rules per card and recalculates them every month, the way issuers do.

Why does paying only the minimum take so long?

Because the minimum shrinks with the balance, principal reduction decelerates every month. At typical card APRs the interest portion dominates: a balance can take decades to clear — or never, when the formula pays less than the month’s interest. The baseline column shows your minimum-only outcome honestly, including “Never”.

How much faster is a fixed payment than the minimum?

Usually dramatically. Freezing your payment at even the first month’s minimum removes the deceleration; adding any extra on top compounds it. On a 3,000 balance at 24.99% with a 1%-plus-interest minimum, minimum-only does not finish within 50 years, while a flat 150/month clears it in 27 months with about 921 of interest — computed by this page’s engine.

Should I pay the highest-APR card or the smallest balance first?

Highest APR (avalanche) costs the least interest when APRs are fixed; smallest balance (snowball) gives the fastest first win. Promotional rates that expire can change which order is cheapest, so this calculator compares the strategies on your actual cards rather than asserting a universal rule.

What is credit utilization and what is the 30% guideline?

Utilization is your balance divided by your credit limit, per card and across all cards. Widely cited guidance suggests staying under about 30%; lower is generally described as better. This calculator tracks utilization through your payoff plan — but makes no credit-score promises, because scoring models are proprietary.

Will paying off my credit cards raise my credit score?

Often, over time — lower utilization and continued on-time payments generally help. But effects vary by person, model, and timing, and no calculator can promise a score change. Treat the utilization milestones here as progress markers, not forecasts.

Is a balance transfer a good idea?

It depends on three numbers this tool computes: the fee (added upfront), the interest avoided during the intro window, and the balance left when the promo ends. A transfer helps when you can clear most of the balance inside the window; it hurts when the fee outweighs the savings or new spending refills the old card. Approval and limits are never guaranteed.

What happens when my 0% promo APR ends?

The card reverts to its standard APR, interest restarts on whatever balance remains, and your payoff order may change. Enter each promo’s end month and the simulation handles the reversion automatically — including showing the balance remaining when the promo expires.

Do annual fees change the payoff plan?

Yes — the model treats the start of the plan as each card’s fee anniversary, so the annual fee posts in month 1 and every 12 months after, accruing interest like any other charge. Enter it per card and the schedule includes it. Clearing a card before its next anniversary avoids another year’s fee.

Can I keep using my cards while paying them off?

You can model that: each card accepts an optional monthly new-charges amount. The simulation counts new spending against your progress, so you can see precisely what continued use costs in months and interest. The default assumes no new spending.

Why is my number different from my card statement?

Issuers accrue interest daily on the average daily balance, apply payments on specific dates, and use grace periods and your exact minimum formula. This model accrues monthly on your entered figures — close, but the statement is the binding number. For the official payoff amount, ask the issuer.

What if I can only afford the minimums?

The baseline shows that outcome honestly — including “Never” when a minimum does not cover interest. If that is your reality, the levers are the budget (any fixed extra helps disproportionately), your issuers (hardship programs exist), and a nonprofit credit counselor who can negotiate on your behalf.

Does this calculator work outside the United States?

Yes — pick any of the built-in currencies or a custom symbol, and enter your card’s actual APR and minimum rule. Minimum-payment conventions vary by country (some use 5% of balance, others fixed percents); the four rule types cover the common formulas.

Can I download the payoff plan?

Yes — a 9-sheet Excel workbook with your card inputs, the strategy comparison, the month-by-month schedule (first 240 months for very long plans, with the full horizon in the chart-data sheet), per-card breakdowns, the balance-transfer scenario, methodology, and disclaimer. It is generated in your browser from your inputs; nothing is uploaded or stored.

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Sources & methodology

Methodology: a deterministic month-by-month simulation over your entered balances, APRs, limits, and minimum rules — interest at APR ÷ 12, issuer-style minimums recalculated monthly, extras to the strategy target, payments capped at balances, freed minimums rolled forward when fixed-total mode is on, promo reversion and annual fees on schedule, and a 600-month safety cap. The single-card closed form n = −log(1 − rB/P) ÷ log(1+r) is used as a cross-check. The engine and the Excel workbook are validated against hand-computed schedules and an Excel-compatible formula engine on every change. Sources verified June 2026; links open in a new tab.

Last reviewed: 14 June 2026. Formula and assumptions reviewed for accuracy. First published 11 June 2026.

Credit & money disclaimer

This calculator is for educational estimates only. It is not financial, legal, tax, credit, or debt-settlement advice, and it is never an official issuer payoff quote — your card issuer computes the binding payoff amount, interest, and minimum payment. Issuer rules, daily interest accrual, grace periods, fees, and promotional terms vary by card and country. Balance-transfer approval, limits, and terms are never guaranteed. If card debt feels unmanageable, a qualified nonprofit credit counselor or licensed professional can help.

Built and maintained by Calculator Matters, an independent calculator project. We never ask for card numbers, account numbers, or identity details; inputs are processed in your browser and never stored. Engine and Excel schedules validated against hand-computed cases on every change · Last reviewed 14 June 2026 · How we calculate · Editorial policy · Privacy · Found an error? [email protected]

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