Calculator
Sort Your Credit Card Payoff
Enter balance, APR, and a fixed monthly payment to sort payoff time and interest cost. Set a target month count to see the payment needed. New purchases and fees stay outside the model.
For sorting a single card (or APR bucket) you want to clear—months to $0, interest cost, or the payment a chosen deadline would require under a fixed APR.
Card details
Optional. Leave blank if you only want the payoff time for your current payment.
Results
Months to payoff
2 years 10 months
Total interest
$1,748.69
Total amount paid
$6,748.69
Sorted Finance is an education site. Our tools and writing help you organize questions—they do not replace advice from a licensed professional.
Modeling notes: methodology.
How to use this calculator
- Enter the statement balance you intend to wipe out—one card or one APR bucket at a time.
- Use the APR that actually applies to that balance, not a promo unless you know you qualify and will finish before it ends.
- Choose a payment you can make every month with no new charges on that same balance.
- Optional: set a target month count to see the fixed payment this model needs for that deadline.
What this estimate includes
- Month-by-month interest at APR ÷ 12 on a shrinking balance
- Estimated months to paid-off and total interest
- Optional payment required for a chosen payoff window
What it leaves out
- New spend, cash advances, and mid-plan balance transfers
- Penalty APRs, late fees, and annual fees
- Daily-balance methods that can differ from monthly simplification
- Multiple APRs on one card treated as separate buckets unless you split them
How this calculation works
Each month, interest is added using APR ÷ 12, then your payment is applied. If the payment cannot cover that month’s interest, the balance will not fall and the sorter reports that payoff may not finish under those inputs.
The optional payoff window estimates the fixed payment needed to reach $0 in that many months. Issuers may use daily rates and average daily balances, so statement math can differ slightly from this monthly simplification.
Learn more in how credit card interest works and what APR means. For competing payoff strategies, see debt snowball vs avalanche.
n = ln(P / (P − B × r)) / ln(1 + r)
For fixed payment P, balance B, and monthly rate r. If P is not greater than monthly interest, the balance does not fall. The on-page result uses a month-by-month simulation so the last payment can be smaller.
Worked example
A $7,200 balance at 22.9% APR with a $280 monthly payment and no new charges takes about 36 months in this model, with roughly $2,795 in interest. Raising the payment shortens both the timeline and the interest cost.
An 18-month payoff goal on the same balance and APR needs a payment near $476 here. If you only pay $140, interest can eat most of the payment and progress stalls—raise the payment until the balance clearly declines each month.
Quick comparison
Round-number scenarios for orientation only—not quotes or approvals.
| Balance | APR | Payment | Approx. months | Approx. interest |
|---|---|---|---|---|
| $7,200 | 22.9% | $140 | Stalls / risky | May not shrink |
| $7,200 | 22.9% | $280 | ~36 | ~$2,795 |
| $7,200 | 22.9% | $476 | ~18 | Lower interest |
Practical tips
Minimums turn years into accidents
A minimum often barely covers interest. Raise the fixed payment until the timeline is a choice you made—not something that happened to you.
Freeze new charges on the plan
This model assumes a closed starting balance. Fresh purchases push the finish line out unless the payment rises to match.
Promo clocks expire
If you sketch 0% for 15 months, put a reminder on the calendar. When the promo ends, re-sort the numbers at the standard APR before you celebrate.
Bottom line
Pick a payment that clears the card on a date you chose. Confirm APR on the statement, pause new charges on that plan, and treat the timeline as an estimate—issuer math can differ a little.
Frequently asked questions
Why might the tool say payoff may never finish?
If the monthly payment is less than or equal to the first month’s interest, the balance does not shrink. Raise the payment or lower the APR (refinance or transfer, if available) to make progress.
Are new purchases included while I pay down?
No. The model assumes one starting balance, a fixed APR, and a fixed payment. New charges extend the timeline unless you raise the payment.
What does the desired payoff period do?
When you enter a target month count, the tool estimates the fixed payment needed to reach $0 in that window under a fixed APR in this model.
Which APR should I type in?
Enter the rate tied to the dollars you are wiping out—usually the purchase APR on that statement. Cash-advance or penalty rates deserve their own run if those balances apply.
Will my issuer’s payoff date match exactly?
Not always. Issuers may use daily rates and average daily balances. Treat our timeline as a close planning estimate and confirm with your servicer when precision matters.
Related calculators
- Multi-Debt Payoff SorterSort snowball vs avalanche order across several balances. See months to debt-free, interest, and which account to attack first.
- Installment Loan SorterSort monthly payment, total interest, and full repayment on fixed-rate installment loans. Compare terms before you sign.
- 50/30/20 Cash-Flow SorterSort take-home pay into needs, wants, and savings targets—then compare those targets with what you actually spend.
Related guides
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