Credit Card Payoff Calculator

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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 Extra Payment Calculator

Credit Card Balance
$
Interest Rate
Current Monthly Payment
$
Extra Monthly Payment
$
OR
Desired Payoff Years
years

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
Jul, 2026 Feb, 2026

Credit Card Payoff Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Feb, 2025 1 $85.02 $390.10 $475.12 $5,109.90
Mar, 2025 2 $78.99 $396.13 $475.12 $4,713.77
Apr, 2025 3 $72.87 $402.25 $475.12 $4,311.52
May, 2025 4 $66.65 $408.47 $475.12 $3,903.05
Jun, 2025 5 $60.33 $414.79 $475.12 $3,488.26
Jul, 2025 6 $53.92 $421.20 $475.12 $3,067.06
Aug, 2025 7 $47.41 $427.71 $475.12 $2,639.36
Sep, 2025 8 $40.80 $434.32 $475.12 $2,205.04
Oct, 2025 9 $34.09 $441.03 $475.12 $1,764.00
Nov, 2025 10 $27.27 $447.85 $475.12 $1,316.15
Dec, 2025 11 $20.35 $454.77 $475.12 $861.38
Jan, 2026 12 $13.32 $461.80 $475.12 $399.57
Feb, 2026 13 $6.18 $399.57 $405.75 $0.00

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