Credit Card Payoff Calculator
Credit card interest compounds against you monthly. See what your current payment actually achieves — and what a little more would do.
Your numbers
Compare a slightly larger payment.
Everything is calculated in your browser. Nothing you type here is sent to Verdi or stored anywhere.
Time to pay off
3 yr 2 mo
paying $250 a month
- Total interest
- $2,957
- Total paid
- $9,457
- Paying $350 instead
- 2 years
- Interest saved by paying more
- $1,154
How to use this calculator
Why minimum payments trap people
A minimum payment is typically calculated as a small percentage of the balance, so it shrinks as the balance shrinks. That stretches a card out for years and can more than double what you repay.
Fixed payments beat percentage minimums
Pick a fixed dollar amount you can sustain and keep paying it even as the balance falls. The payoff date moves dramatically closer.
Common questions
Does this assume I stop using the card?
Yes. New purchases are not included. If you keep charging to the card, the payoff date moves further out than shown.
What about a 0% balance transfer?
Set the rate to 0% for the promotional period to see how much you'd need to pay monthly to clear it before the standard rate returns. Remember to include any transfer fee in the balance.
This calculator is an educational estimate based only on the figures you enter. Verdi does not provide financial, investment, tax, legal, credit or lending advice. Actual rates, fees, taxes and terms offered to you may differ.