Credit card payoff calculator
See how long it will take to clear a credit card balance at the amount you pay each month, and how much interest it will cost along the way. Free, no sign-up, nothing leaves your browser.
- 1Type in your own numbers
- 2The tool works it out
- 3See the answer clearly
Use the APR on your own statement; the starting rate is only an example. This assumes no new spending, no fees and a fixed rate.
Why card balances take so long to clear
Each month interest is added to what you owe, and your payment covers that interest before it reduces the balance. If you only pay a little more than the interest, almost nothing comes off the balance, so it can take years to clear and cost far more than you first spent.
Paying it off faster
Paying a fixed amount above the minimum makes the biggest difference, because the extra goes straight to the balance. Stopping new spending on the card helps too. Check your own card's rate and terms, as rates vary from person to person.
See it happen
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
Launch your own money app
Give your customers GBP, EUR and USD accounts, transfers and branded cards under your own brand, powered by licensed partners. SendPay doesn't offer lending.