Are you making minimum payments on your credit card? Use the credit card payoff calculator to calculate the interest savings when you make extra principal payments each month.
Credit Card vs. Extra Payment |
||
| Original | Early Payoff | |
|---|---|---|
Monthly Payment |
$365.12 | $475.12 |
Expected Payoff Time |
18 months | 13 months |
Total Interest |
$809.98 | $607.19 |
Total Principal |
$5,500.00 | $5,500.00 |
Total Payment |
$6,309.98 | $6,107.19 |
Total Interest Savings |
$0 | $202.79 |
Payoff Date |
Mar, 2026 | Oct, 2025 |
Credit Card Payoff Amortization Schedule |
||||||
| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
|---|---|---|---|---|---|---|
| Oct, 2024 | 1 | $85.02 | $390.10 | $475.12 | $5,109.90 | |
| Nov, 2024 | 2 | $78.99 | $396.13 | $475.12 | $4,713.77 | |
| Dec, 2024 | 3 | $72.87 | $402.25 | $475.12 | $4,311.52 | |
| Jan, 2025 | 4 | $66.65 | $408.47 | $475.12 | $3,903.05 | |
| Feb, 2025 | 5 | $60.33 | $414.79 | $475.12 | $3,488.26 | |
| Mar, 2025 | 6 | $53.92 | $421.20 | $475.12 | $3,067.06 | |
| Apr, 2025 | 7 | $47.41 | $427.71 | $475.12 | $2,639.36 | |
| May, 2025 | 8 | $40.80 | $434.32 | $475.12 | $2,205.04 | |
| Jun, 2025 | 9 | $34.09 | $441.03 | $475.12 | $1,764.00 | |
| Jul, 2025 | 10 | $27.27 | $447.85 | $475.12 | $1,316.15 | |
| Aug, 2025 | 11 | $20.35 | $454.77 | $475.12 | $861.38 | |
| Sep, 2025 | 12 | $13.32 | $461.80 | $475.12 | $399.57 | |
| Oct, 2025 | 13 | $6.18 | $399.57 | $405.75 | $0.00 | |
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