Why do I get an error when my payment looks reasonable?

If the payment is less than or equal to the first month's estimated interest, the balance would not decline under these assumptions. Increase the payment or lower the APR/balance inputs you are testing.

Is the final payment always the same as my monthly payment?

No. The last month is capped to remaining balance plus that month's interest, so the final payment is often smaller.

Credit Card Payoff Calculator

Estimate months to payoff, total interest, and a month-by-month schedule from the balance, APR, and fixed monthly payment you enter. If the payment does not cover estimated monthly interest, the tool reports that payoff is impossible under those assumptions.

Estimated results

Educational estimate

Estimated payoff time

2 years, 11 months (35 months)

Fixed monthly payment simulation with monthly compounding of the APR you entered. Not a guarantee of your issuer's billing cycle.

Estimated total payments: $6,859.78
Estimated total interest: $1,859.78
Final payment: $59.78

Payoff schedule

Each row shows starting balance, interest, payment, principal reduction, and ending balance.

Credit card payoff schedule
Month	Starting balance	Interest	Payment	Principal	Ending balance
1	$5,000.00	$95.42	$200.00	$104.58	$4,895.42
2	$4,895.42	$93.42	$200.00	$106.58	$4,788.84
3	$4,788.84	$91.39	$200.00	$108.61	$4,680.22
4	$4,680.22	$89.31	$200.00	$110.69	$4,569.54
5	$4,569.54	$87.20	$200.00	$112.80	$4,456.74
6	$4,456.74	$85.05	$200.00	$114.95	$4,341.79
7	$4,341.79	$82.86	$200.00	$117.14	$4,224.65
8	$4,224.65	$80.62	$200.00	$119.38	$4,105.27
9	$4,105.27	$78.34	$200.00	$121.66	$3,983.61
10	$3,983.61	$76.02	$200.00	$123.98	$3,859.63
11	$3,859.63	$73.65	$200.00	$126.35	$3,733.28
12	$3,733.28	$71.24	$200.00	$128.76	$3,604.53
13	$3,604.53	$68.79	$200.00	$131.21	$3,473.31
14	$3,473.31	$66.28	$200.00	$133.72	$3,339.60
15	$3,339.60	$63.73	$200.00	$136.27	$3,203.33
16	$3,203.33	$61.13	$200.00	$138.87	$3,064.46
17	$3,064.46	$58.48	$200.00	$141.52	$2,922.94
18	$2,922.94	$55.78	$200.00	$144.22	$2,778.72
19	$2,778.72	$53.03	$200.00	$146.97	$2,631.74
20	$2,631.74	$50.22	$200.00	$149.78	$2,481.97
21	$2,481.97	$47.36	$200.00	$152.64	$2,329.33
22	$2,329.33	$44.45	$200.00	$155.55	$2,173.78
23	$2,173.78	$41.48	$200.00	$158.52	$2,015.26
24	$2,015.26	$38.46	$200.00	$161.54	$1,853.72
25	$1,853.72	$35.38	$200.00	$164.62	$1,689.10
26	$1,689.10	$32.23	$200.00	$167.77	$1,521.33
27	$1,521.33	$29.03	$200.00	$170.97	$1,350.36
28	$1,350.36	$25.77	$200.00	$174.23	$1,176.13
29	$1,176.13	$22.44	$200.00	$177.56	$998.58
30	$998.58	$19.06	$200.00	$180.94	$817.63
31	$817.63	$15.60	$200.00	$184.40	$633.24
32	$633.24	$12.08	$200.00	$187.92	$445.32
33	$445.32	$8.50	$200.00	$191.50	$253.82
34	$253.82	$4.84	$200.00	$195.16	$58.66
35	$58.66	$1.12	$59.78	$58.66	$0.00

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How this calculation works

Each month, estimated interest = balance × (APR ÷ 100 ÷ 12). The payment is applied after interest. Principal reduction = payment − interest. The final payment is capped to remaining balance plus that month's interest.

If payment ≤ monthly interest on a positive balance, the debt cannot be paid off under the specified payment, and the calculator returns an error instead of an endless schedule.

Assumptions

Fixed monthly payment every month until payoff.
No new charges, annual fees, or penalty APRs.
Balance tolerance for completion: $0.005 (half a cent).
Simulation safety cap: 1,200 months.

Limitations

Does not model issuer minimum-payment formulas or promotional APRs unless you enter equivalent numbers yourself.
Does not invent late fees or penalty pricing.
Educational estimate only — not credit counseling or debt-settlement advice.

Frequently asked questions

Why do I get an error when my payment looks reasonable?: If the payment is less than or equal to the first month's estimated interest, the balance would not decline under these assumptions. Increase the payment or lower the APR/balance inputs you are testing.
Is the final payment always the same as my monthly payment?: No. The last month is capped to remaining balance plus that month's interest, so the final payment is often smaller.

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How credit card payoff time is calculated — Fixed-payment simulation, interest, and impossible-payoff cases.
Debt snowball vs avalanche — How multi-debt payment orderings differ before you model a single card.
Methodology

Credit Card Payoff Calculator

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Estimated results

Estimated payoff time

Payoff schedule

How this calculation works

Assumptions

Limitations

Frequently asked questions

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Estimated results

Estimated payoff time

Payoff schedule

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Estimated results

Estimated payoff time

Payoff schedule

How this calculation works

Assumptions

Limitations

Frequently asked questions

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