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Credit Card Debt Payoff Calculator

When you carry a credit card balance, you pay more than the purchase price of whatever you bought. Use this credit card debt payoff calculator to help you understand how much you are actually paying when you buy something with a credit card.

Bookmark this page as a helpful tool you can use when making decisions about credit card purchases.

Credit Card Debt Payoff Calculator

Estimate what your credit card debt could cost in total, including interest and annual fees.

1. Your purchase and card
2. Your payment plan
Annual fee, if your card has one

Your entries stay in this calculator. Update your inputs and calculate again to refresh results.

Educational estimates only. Actual interest and minimum payments depend on your card agreement. This calculator assumes monthly interest, no grace period, no new charges, and an unchanged APR.

How to use the credit card payoff calculator

  1. Enter the purchase price you paid. Here you can enter the purchase price of an item you bought. Additionally, you can enter balance on the account you are using to make the purchase.
  2. Choose the APR of your card and the payment you think you'll be making. You can find the Annual Percentage Rate (APR) of your credit card on your statement.
  3. Add the annual fee. If you have an annual fee for your card, enter it and the month when it next comes due. Month 1 means before your next payment.
  4. Read and compare. When you've entered all of your information see your total payments, interest, fees, and payoff time. Open the higher-payment comparison or payment breakdown for more detail. Use Print or Save as PDF to keep your results.

See How Much You're Really Paying for Purchases Credit Card Purchases

The credit card payoff calculator shows you how much you are paying for principal credit card debt, fees and interest over time. We hope that you bookmark this page so that you can use this tool when you are considering buying something on a credit card.