Credit Card Repayment Calculator
Welcome to the Federal Reserve’s
Credit Card Repayment Calculator.
Based on the information you provide, the calculator will give you an estimate of how long it will take you to pay off your credit card balance.
The calculator assumes:
- you make no more charges; and
- you make only the minimum payment each month.
A second calculation can help you develop a plan for paying off your balance sooner.
Please use your most recent credit card bill. You may get a more accurate estimate from your credit card issuer’s website.
How long will it take me to pay off my credit card balance if I make only the minimum