Toolbox » Calculators » Credit Card Payoff
What will it take to reach your savings goal? This financial calculator helps you find out. Enter in your savings plan and view graphically your financial results. Click the report button to get more information about your plan, and what you can do to make sure that it is on track.
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 your 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.
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.