Debt Reduction Calculator – When Will My Credit Card Be Paid Off?

It’s easy to get trapped in credit card debt.

If you know what your budget can handle in terms of monthly payments, this calculator can tell you when your credit card will reach that zero balance you’re pursuing. If you don’t, try our credit card payoff calculator to find out how much you’ll need to pay each month.

Move the sliders to set your parameters – the current balance on your credit card, the average monthly payment you’re targeting – and then enter the interest rate you are being charged. Click the “Recalculate” button to see your results.

The calculator shows when you can expect to pay off your credit card given the parameters you set.

How to pay off credit card debt faster

Banks change interest rates and other credit card terms frequently. Use this debt-reduction calculator to help you determine if a different credit card might help you reach payoff sooner. For example, a balance-transfer card could help you pay off debt and help reduce how much interest you pay over time. Experiment with different monthly payments and interest rates to explore the possibilities.