NWS Calc

Credit Card Payoff Calculator

How long to clear a card balance and what the interest really costs.

%
Time to clear
2 yr 11 mo

35 payments of $200.00

Total paid
$6,859.39
Interest paid
$1,859.39
Interest as % of balance
37.2%
Show the working
  1. 1Monthly rate = 22.9% ÷ 12 = 1.9083%
  2. 2First month's interest = $95.42, so $104.58 comes off the balance
  3. 3Months = −ln(1 − rB/P) ÷ ln(1+r) = 34.3
Formula
n = −ln(1 − rB ÷ P) ÷ ln(1 + r)

How it works

Shows how long a card takes to clear at a fixed monthly payment, and what the interest costs you. If the payment is below the monthly interest, the balance never falls — the calculator says so explicitly.

Example

$5,000 at 22.9% APR paying $200/month clears in 2 years 11 months, costing about $1,856 in interest.

More in Finance & Loans

About the Credit Card Payoff Calculator

How long to clear a card balance and what the interest really costs. It sits in the Finance & Loans section of NWS Calc, a free collection of calculators that run entirely in your browser. There is no signup, no paywall and no tracking — open the page, enter your numbers, get an answer.

Frequently asked questions

Is the Credit Card Payoff Calculator free to use?
Yes. Every calculator on NWS Calc is completely free, with no signup, no usage limits and no ads.
Does my data leave my device?
No. The Credit Card Payoff Calculator runs entirely in your browser using JavaScript. Nothing you type is uploaded, logged or stored on a server.
Can I use the Credit Card Payoff Calculator on my phone?
Yes. The page is fully responsive and works in any modern mobile or desktop browser — there is nothing to install.
What else is in Finance & Loans?
Loans, mortgages, interest, savings and investment returns. You can browse the full Finance & Loans category for related calculators.

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