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Credit Card Payoff Calculator

See how long it will take to pay off your credit card and how much interest you'll pay — or work out the monthly payment needed to be debt-free by a target date.

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Current balanceWhat you owe today.

Interest rate (APR %)Canadian cards are often 19.99%.

What do you want to find?Choose your goal.

Monthly paymentWhat you can pay each month.

Which debt should you attack first?

Paying in a deliberate order costs nothing and can save real interest. Our guide compares the snowball and avalanche methods and shows when each one wins.

Read: snowball vs avalanche →

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How to clear credit card debt faster

Pay more than the minimum. Minimum payments are designed to keep you in debt for years — most of each payment goes to interest.
Target the highest rate first (the "avalanche" method) to pay the least interest overall.
Consider a lower-rate option — a line of credit or consolidation loan can cut a 19.99% card to single digits.

FAQ

Why does paying only the minimum take so long?

At 19.99%, a large share of a small payment is just interest, so the balance barely moves. Raising the payment even a little dramatically shortens the payoff and cuts total interest.