Credit Card Debt Payoff Calculator

Credit card debt is always a big burden. The faster you get rid of it - the better. This credit card debt payoff calculator will help you find out how long it will take to pay off your credit card debt with your existing monthly payments. It would also suggest ways to speed up your debt pay off and reduce the amount of interest you would eventually be paying.

Using this credit card debt payoff calculator is very simple. You need to have just three facts, your existing credit card debt, the APR of your credit card and the payment amount you would be able to pay every month.

To get accurate results it is advised that you treat the debt from each credit card separately. Don't mix-up or add debts and APR from different credit cards.

Fill in your existing credit card debt, APR and monthly payment amount into the credit card debt payoff calculator below and press the calculate button.

  Credit Card Debt Payoff Calculator  
Current Credit Card Debt: APR : Monthly Payments:
$ % $

  Calculation Results & Suggestions:  

Sample Result

Month Principal($) APR(%) Monthly Interest($) Amount Paid($) Balance($)
1. 1000.00 24.00 20.00 100.00 920.00
2. 920.00 24.00 18.40 100.00 838.40
3. 838.40 24.00 16.77 100.00 755.17
4. 755.17 24.00 15.10 100.00 670.27
5. 670.27 24.00 13.41 100.00 583.68
6. 583.68 24.00 11.67 100.00 495.35
7. 495.35 24.00 9.91 100.00 405.26
8. 405.26 24.00 8.11 100.00 313.37
9. 313.37 24.00 6.27 100.00 219.64
10. 219.64 24.00 4.39 100.00 124.03
11. 124.03 24.00 2.48 100.00 26.51
12. 26.51 24.00 0.53 27.04 0.00
Total: Interest Paid   $127.04 Amount Paid   $1127.04 $0.00