Credit card debt pay off calculator

Use this calculator for paying off your credit card to see how changes to your monthly payments and other factors can impact your repayment timeline. Then, connect with an Ameriprise financial advisor to get personalized advice to help you meet your financial goals.

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By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Financial Calculators from
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Credit card debt pay off calculator | Ameriprise Financial

*indicates required.

Credit card information:

Current balance:*This entry is required.Enter an amount between $0.00 and $1,000,000.00

Interest rate (APR):*This entry is required.Enter an amount between 0% and 30%

Payoff goal (in months):*This entry is required.Enter an amount between 1 and 120

Current monthly payment:*This entry is required.Enter an amount between $0.00 and $10,000.00

Additional monthly charges:*This entry is required.Enter an amount between $0.00 and $10,000.00

Annual fee:*This entry is required.Enter an amount between $0.00 and $200.00

Planned major purchases:

$0.00

**FIG_GRAPHTITLE** Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Credit Card Payoff by Month

**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Alternate Payoff Scenarios

Definitions

Current balance

Current outstanding balance on your credit card.

Interest rate (APR)

The annual interest rate being charged for this 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.

Additional monthly charges

Total new charges you expect to put on this credit card per month.

Annual fee

Your annual fee for this credit card, if any.

Major purchase

If you expect a major purchase beyond your normal charges, enter the amount to be spent here.

Months before purchase

Number of months before your major purchase will occur.

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The information in this document is provided by a third party and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Ameriprise Financial Services, LLC. While the publisher has been diligent in attempting to provide accurate information, the accuracy of the information cannot be guaranteed. Laws and regulations change frequently, and are subject to differing legal interpretations. Accordingly, neither the publisher nor any of its licensees or their distributees shall be liable for any loss or damage caused, or alleged to have been caused, by the use or reliance upon this service.

Ameriprise Financial cannot guarantee future financial results.

Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

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