Credit Card Payoff Calculator 2026

Payoff time depends on the balance, interest rate and monthly payment. With a PLN 5,000 balance, 18% interest and a PLN 300 payment, you clear the debt in about 20 months. The higher the payment, the faster the payoff and the less interest you pay.

Paying the minimum (usually 3–5% of the balance) can stretch repayment to many years and multiply the interest cost. If the payment is lower than or equal to the monthly interest, the balance never falls — the debt grows indefinitely.

Interest is charged monthly on the current balance at a monthly rate = annual rate / 12. At 18% per year the monthly rate is 1.5%. On a PLN 5,000 balance the first interest is PLN 75 per month. Part of the payment covers interest, the rest reduces the principal.

If you repay the full balance before the grace period ends (usually 50–56 days), you pay no interest on cashless transactions. Interest accrues only when you do not repay the full amount. Cash withdrawals on a credit card usually do not benefit from the grace period.

The maximum interest equals twice the statutory interest (NBP reference rate + 3.5 pp). In 2026 the cap is roughly 18–20% per year, depending on the current NBP rate. Credit cards usually apply a rate close to this maximum.

Pay more than the minimum each month — even a small overpayment significantly shortens the payoff. Consider consolidating expensive card debt into a cheaper personal loan or a 0% balance transfer card. Avoid new transactions until the debt is cleared.

Consolidation can pay off when the card rate (18–20%) is higher than a personal loan. A lower rate cuts interest cost and organises repayment into fixed instalments. Watch the APR of the consolidation loan and any fees or commissions.

It is the minimum part of the debt you must pay in a given month to avoid late fees and a worse credit record. It is usually 3–5% of the balance, no less than a set amount (e.g. PLN 50). Paying only the minimum is the most expensive way to use a card.

No — the calculator computes only interest on the balance with a fixed monthly payment. It does not include annual card fees, cash withdrawal fees, insurance or over-limit charges. The real cost of a card may be higher by these extra items.

A used card limit lowers your creditworthiness, as banks treat the available limit as a potential liability. Late payments worsen your credit scoring and can make a mortgage harder to obtain. Timely repayment, by contrast, builds a positive credit history.