# Credit card payoff calculator

> Calculate how long a credit card balance takes to pay off on minimum payments versus a fixed monthly payment, and the interest each costs.

交互版本：https://www.calcopenly.com/zh/finance/credit-card-payoff-calculator
主题：财务计算器

Card interest accrues each month at APR ÷ 12 on the balance, and the minimum payment is recalculated from the new balance every month, so it shrinks as the debt falls and the payoff drags on. The calculator runs two schedules month by month, one on minimum payments and one at a fixed amount, and compares the months and interest each takes.

With the defaults, a 5,000 balance at 22.9% APR, a fixed 200 a month clears the card in 35 months with 1,859.78 of interest. The minimum (1% of the balance plus the month's interest, at least 25) starts at 145.42 and takes 232 months, 19.3 years, costing 8,453.56.

Issuers charge interest daily on the average daily balance, so statements differ slightly from this monthly model, and new purchases are not included. Check your card agreement for its minimum payment rule.

## 输入

- **Card balance**
- **年百分率**
- **Fixed monthly payment**
- **Minimum payment rule** (选项：% of balance plus interest, % of statement balance)
- **Minimum payment percentage**
- **Minimum payment floor**: The smallest minimum payment the issuer accepts.

## 结果

- Months to pay off (fixed payment) — 主要结果
- Interest paid (fixed payment)
- Months to pay off (minimum payments)
- Interest paid (minimum payments)
- Interest saved
- First minimum payment

## 公式

$$
B_{k} = B_{k-1}(1 + r) - \min\big(\text{payment}_k,\ B_{k-1}(1+r)\big),\qquad r = \frac{\text{APR}}{1200}
$$

## 计算示例

### 5,000 at 22.9%: 200 a month vs 1% plus interest

- Card balance: 5000
- 年百分率: 22.9%
- Fixed monthly payment: 200
- Minimum payment rule: % of balance plus interest
- Minimum payment percentage: 1%
- Minimum payment floor: 25
- **Months to pay off (fixed payment): 35**
- **Interest paid (fixed payment): 1,859.78**
- **Months to pay off (minimum payments): 232**
- **Interest paid (minimum payments): 8,453.56**
- **Interest saved: 6,593.78**
- **First minimum payment: 145.42**
- 核验来源：Python decimal (prec 50) month-by-month simulation, interest at APR/12 then payment

### 3% of statement balance with a 35 floor

- Card balance: 5000
- 年百分率: 22.9%
- Fixed monthly payment: 200
- Minimum payment rule: % of statement balance
- Minimum payment percentage: 3%
- Minimum payment floor: 35
- **Months to pay off (minimum payments): 180**
- **Interest paid (minimum payments): 7,070.63**
- **First minimum payment: 152.86**
- 核验来源：Python decimal month-by-month simulation

### Payment larger than the balance — one month

- Card balance: 1000
- 年百分率: 12%
- Fixed monthly payment: 2000
- Minimum payment rule: % of statement balance
- Minimum payment percentage: 2%
- Minimum payment floor: 25
- **Months to pay off (fixed payment): 1**
- **Interest paid (fixed payment): 10.00**
- **First minimum payment: 25.00**
- **Months to pay off (minimum payments): 52**
- 核验来源：1000 × 1% = 10 interest, cleared in one payment; the 25 floor exceeds 2% × 1010 (Python decimal simulation for 52 months)

### Zero APR

- Card balance: 1200
- 年百分率: 0%
- Fixed monthly payment: 100
- Minimum payment rule: % of statement balance
- Minimum payment percentage: 2%
- Minimum payment floor: 25
- **Months to pay off (fixed payment): 12**
- **Interest paid (fixed payment): 0.00**
- **Months to pay off (minimum payments): 48**
- **Interest paid (minimum payments): 0.00**
- 核验来源：1200 / 100 = 12 months; 2% of the balance never exceeds the 25 floor, so 1200 / 25 = 48 months

## 常见问题

### How long does it take to pay off a credit card with minimum payments?

Often decades, because the minimum shrinks with the balance. A 5,000 balance at 22.9% APR on a minimum of 1% plus interest (at least 25) takes 232 months, 19.3 years, and costs 8,453.56 in interest. In the US, Regulation Z (12 CFR 1026.7(b)(12)) requires each statement to show the payoff time and total cost at the minimum payment.

### How much do I need to pay to clear my card in 3 years?

Use the loan payment formula with 36 months. Clearing 5,000 at 22.9% APR in 36 months takes 193.29 a month and 1,958.37 of interest; in 24 months it takes 261.62 a month and 1,278.84 of interest. US statements show the 36-month figure and the saving against minimum payments, unless the minimum already clears the balance within 3 years (Regulation Z).

### How is credit card interest calculated?

The APR is divided into a periodic rate and applied to the balance. At 22.9% APR the monthly rate is 22.9 ÷ 12 = 1.908%, so a 5,000 balance accrues 95.42 of interest in the first month. Issuers usually apply a daily rate to the average daily balance instead, which gives a slightly different figure, and interest is charged on interest left unpaid.

### What is the average credit card interest rate?

22.15% APR for US accounts assessed interest in the second quarter of 2026, according to the Federal Reserve's G.19 consumer credit release of 8 September 2026. At that rate, 5,000 paid off at 200 a month takes 34 months and costs 1,767.76 in interest, against 35 months and 1,859.78 at the 22.9% default.

### How much faster does paying more than the minimum clear a card?

Each extra amount shortens the payoff sharply. On 5,000 at 22.9% APR, 150 a month takes 54 months and 3,021.92 of interest, 200 takes 35 months and 1,859.78, and 300 takes 21 months and 1,075.70. Doubling the payment from 150 to 300 cuts the interest by 64%.

### “Credit card payoff calculator”有多准确？

准确性取决于输入值和方法的假设。十进制运算使用50位有效数字，但估算、数值方法和源数据的精度可能较低；显示时的舍入并不能消除这些限制。 已按独立来源核验的计算示例：4。 例如，“5,000 at 22.9%: 200 a month vs 1% plus interest”根据Python decimal (prec 50) month-by-month simulation, interest at APR/12 then payment进行核验。

### 这种方法出自哪里？

Regulation Z, Appendix M1 to Part 1026 — Repayment disclosures (minimum payment repayment estimates); Consumer Financial Protection Bureau — Understanding minimum payments.

## 来源

- [Regulation Z, Appendix M1 to Part 1026 — Repayment disclosures (minimum payment repayment estimates)](https://www.consumerfinance.gov/rules-policy/regulations/1026/m1/)
- [Consumer Financial Protection Bureau — Understanding minimum payments](https://www.consumerfinance.gov/consumer-tools/educator-tools/youth-financial-education/teach/activities/understanding-minimum-payments/)

_仅用于规划。贷款机构、税务机关和市场采用各自的舍入方式、费用和规则；作出承诺前，请向相关机构确认数值。_