Free Credit Card Payoff Calculator-Create Your Debt-Free Plan

Create a clear path to becoming debt-free with our comprehensive Credit Card Payoff Calculator. This tool offers two powerful strategies to help you take control of your finances. Whether you want to know how long it will take with your current payments or determine the payment needed to meet a specific goal, we provide a full analysis, including alternate scenarios and a detailed month-by-month breakdown.

Choose Your Debt Payoff Strategy:

Use the tabs above to select the calculator that best fits your needs.

• Fixed Payment Plan: Choose this if you have a specific monthly budget in mind. Enter what you can afford to pay each month, and we'll calculate your debt-free date and show you how much you'll save in interest compared to making minimum payments.
• Target Payoff Goal: Choose this if you have a deadline. Want to be debt-free in time for a major life event? Enter your goal in months, and we'll calculate the exact monthly payment you need to make to achieve it.

Understanding Your Payoff Plan

• Total Interest Paid: This is the total "cost" of your credit card debt. A higher monthly payment can dramatically reduce this number, saving you thousands.
• Alternate Payoff Scenarios: This powerful bar chart visualizes how increasing your monthly payment can drastically shorten your payoff timeline. See the required payments for 12, 24, 36, 48, and 60-month goals.
• Payoff Breakdown Schedule: This detailed table shows your progress month by month. Watch your balance decrease as you see exactly how much of your payment goes toward principal versus interest each period.

Disclaimer: This calculator is for informational and educational purposes. The calculations assume a fixed interest rate and do not account for late fees, other charges, or promotional APRs. Consult with a certified financial advisor for personalized debt management advice.