About this calculator

Estimate how long it takes to clear a card balance with a fixed monthly payment.

Review the terms, rates, and fees offered by your financial provider before making a decision.

Formula

Each month, interest = balance x APR / 12. The payment is subtracted after interest until the balance reaches zero.

Assumptions

• APR and monthly payment stay constant.
• No new purchases, late fees, or balance transfers are added.
• Monthly payment must be higher than monthly interest.