Credit Card Payoff Calculator

Estimates only — your lender's disclosure governs. LoanMatchers is not a lender. Rates and terms vary by lender and creditworthiness. This page provides general educational information, not financial advice — consult a qualified professional before making financial decisions.

How it works

Each month interest accrues on the balance, then your fixed payment reduces it. If the payment does not cover monthly interest, the balance grows — the calculator flags that.

Need a realistic rate? See the current credit card rate benchmarks (cited official benchmarks).

Frequently asked questions

What does 'accounts assessed interest' mean?

The G.19 publishes two credit-card rates: the average across all accounts (including those paid in full) and the average across accounts that actually incurred interest — the second is higher and closer to what revolvers pay.

How do extra payments reduce credit-card payoff time?

Paying more than the minimum shrinks principal faster, which cuts both the months to payoff and total interest. The payoff calculator quantifies both.

What is the current average credit-card rate?

See the cited G.19 quarterly benchmarks on the credit-card rates page — both the all-accounts and assessed-interest figures with their publication period.