Credit Card Payoff Calculator — Pay Off by Date
The solve-backwards view: pick when you want the card at zero and the calculator computes the level monthly payment that gets there. Clearing $5,000 at 24% APR in 24 months takes $264.36 a month and $1,344.53 of total interest. It turns a vague intention into a concrete budget line, and pulling the date closer shows exactly how much interest each month of speed buys back.
Credit card payoff
Required monthly payment
$264.36
Pays the balance off in 2 yr
Breakdown
A month-by-month amortization estimate from the balance, APR, and payment you enter. Card interest accrues daily in practice and issuers set their own minimum-payment formulas, so treat these totals as close estimates — not credit counseling or financial advice.
Working backwards from a deadline
The required payment comes from the standard amortization formula — the same math as a fixed-rate loan — applied to the card balance over your chosen number of months. The trade-off curve is steep at high APRs: stretching the same $5,000 from 24 to 36 months drops the payment from $264.36 to about $196 but raises total interest from $1,344.53 to roughly $2,060.
A deadline also defends against the psychology of revolving debt: a fixed payment chosen once beats re-deciding every month, when the issuer's minimum is always the path of least resistance. Set the payment as an automatic transfer and the payoff date stops being aspirational.
Questions
- What payment clears $5,000 at 24% APR in two years?
- $264.36 a month, paying $1,344.53 of total interest. The same balance in 12 months takes about $473 a month but cuts interest to roughly $674.
- Does the required payment account for new purchases?
- No. The solve assumes the balance is frozen — keep spending on the card and the computed payment will land short of the target date.