| Resources > Financial Calculators > Credit Card Pay Off |
Credit Card PayOff
Calculator
Use this calculator to
see what it will take to payoff your credit card balance,
and what you can change to meet your repayment goals.
Definitions
Current balance
Current outstanding balance on your 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.
New charges per month
Total new charges you expect to put on this
credit card per month.
Interest rate (APR)
The annual percentage rate for this credit
card.
Annual fee
Your annual fee for this credit card.
Major purchase
If you expect a major purchase beyond your
normal charges, enter the amount to be spent
here.
Months from now
Number of months before your major purchase
will occur.
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Information and interactive calculators
are made available to you as self-help tools for your
independent use and are not intended to provide investment
advice. We can not and do not guarantee their applicability
or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative
purposes. We encourage you to seek personalized advice
from qualified professionals regarding all personal
finance issues.
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