Money Management Resources
Learn about our savings products and tools, and get more information on our debit cards.
Pay off your credit card debt and start your journey toward financial freedom.
Have you ever wondered what it will take to pay off your credit card balance and shed the burden of credit card debt? Our free credit card payoff calculator makes it easy to formulate a plan so you can help reach your repayment goals, improve your credit score, and better your financial future.
For guidance on how to free up additional funds that you can put toward paying off your credit card debt, use our budget calculator to review your current monthly income and expenses. And don't hesitate to contact us for more information on our personal loans for debt consolidation and savings accounts to help you achieve your savings goals.
By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.
Credit Card Payoff by Month Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.
Alternate Payoff Scenarios Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.
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Credit card information: |
Planned major purchases: | $0 |
Credit Card Payoff by Month |
Alternate Payoff Scenarios |
Definitions
Current balance
Current outstanding balance on your credit card.
Interest rate (APR)
The annual interest rate being charged for this credit card.
Payoff goal (in months)
Your goal for paying off this credit card. This is the number of months by which you would like to have completely paid off this credit card balance.
Current monthly payment
The amount you are currently paying per month on this credit card. Please enter the amount you actually pay, not the minimum payment. This amount is used to calculate how long it will take you to pay off your balance.
Additional monthly charges
Total new charges you expect to put on this credit card per month.
Annual fee
Your annual fee for this credit card, if any.
Major purchase
If you expect a major purchase beyond your normal charges, enter the amount to be spent here.
Months before purchase
Number of months before your major purchase will occur.
