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| month | Starting balance | Interest | Payment | Principal paid | Ending balance |
|---|---|---|---|---|---|
| No amortization schedule is available for the current inputs. | |||||
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Credit Card Payoff Calculator FAQ
It estimates the monthly payment, payoff time, total interest, total paid, a remaining balance chart, and a month-by-month amortization table based on your starting balance, interest rate, and selected payoff mode.
Each month the calculator first computes interest using interest rate / 12 / 100, adds that interest to the balance, then applies the payment for the selected mode. The final payment is capped so the balance does not go negative.
If the payment is less than or equal to the monthly interest, the balance does not amortize. The calculator flags that case as an impossible payoff because the debt would not be paid off under those settings.
The minimum payment mode supports two simplified rules: percent of balance and interest + percent of balance. Many real issuers use variations of these rules plus floor amounts, fees, or statement-specific adjustments, so the result is only an estimate.
The calculator uses a numerical search to find the payment that pays the balance to zero within the selected payoff period under the same month-by-month simulation logic. This is more practical than relying on a single closed-form formula when extra payments are included.
No. This version assumes a fixed starting balance, a fixed interest rate, and no new charges or fees. If your real card balance changes over time, actual payoff results will differ.
