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Credit Card Payoff Calculator
Free credit card payoff calculator for Canada: how many months to clear your balance at your payment, the payment needed to be debt-free by a date, and the cost of paying only the minimum.
Your card
Debt-free in
2 yrs 10 mo
| Monthly payment | $200 |
| Total interest | $1,464 |
| Total paid | $6,464 |
| Minimum payment only (~$150) | 4 yrs 3 mo, $2,485 |
Interest charged monthly at the yearly rate ÷ 12, with no new purchases. Not legal, tax or financial advice. 🔒 Everything stays on your device.
📚 Official sources: FCAC: credit cards
We build every tool from the official rules and re-check them when they change. Always confirm with the official source before you rely on a result.
🛠️ Spotted a mistake or an out-of-date rule? Tell us
Questions people ask
How long to pay off $5,000 at 20.99%?+
About 2 years 10 months at $200 a month, with roughly $1,460 of interest.
What is the minimum payment in Canada?+
Usually 2% to 3% of the balance or $10, whichever is more. Paying only that can take decades.
Is there an interest-free grace period?+
Yes, at least 21 days on new purchases if you pay the full balance by the due date.