Credit Card Payoff Calculator by Card Type 2026

TL;DR in 90 seconds

Most U.S. credit cards use the daily-balance method to calculate interest: APR / 365 daily rate, applied to your balance each day, summed for the cycle. Apple Card, alone among major cards, displays the daily interest accrual in real time in its app, but the underlying math is identical.

What changes by card:

1. APR range. Chase Sapphire Preferred: 20.74-27.74% (May 2026). Apple Card: 18.24-28.24%. Store cards: typically 28-32%. Subprime general purpose: 25-31%.
2. Minimum payment formula. CFPB-typical: 1% of principal + interest, with a $25 floor. Some issuers use a flat $35 minimum or 2% of principal + interest. Check your statement.
3. Annual fee. Counts as part of total cost when computing whether the rewards offset interest. Sapphire Reserve at $550/year requires significant non-balance spend to break even if you carry a balance.
4. Rewards structure. Cash back, points, miles. Carry-balance reality: at 22%+ APR, the interest you pay typically exceeds the rewards you earn, even on premium cards. The card pays you 2-3% back; the card charges you 22%+ on revolved balance. The math does not work.

The rewards-vs-interest break-even

A 2% cash back card pays you $2 on every $100 spent. If you carry that $100 to the next month at 22.30% APR, the daily interest on $100 for 30 days is $1.83. After two months: $3.71. After three: $5.59. By month two, the interest exceeds the rewards. By month three, you are net negative by 3.5x what you “earned.”

This is why the warm-coach answer to “should I keep using my rewards card while paying it off?” is “ideally no.” Pause new spending on the card you are paying off. The points are not worth what the carried balance costs.

Where store cards fit

Per the CFPB 2025 Consumer Credit Card Market Report, private-label store cards average 28.93% APR, vs 22.30% for general-purpose cards. On a $2,000 balance carried for a year, that 6.6 percentage point gap is roughly $132 extra interest. Over 3 years on a slow-payoff balance, several hundred dollars.

If you have a store card with a balance, prioritize it under avalanche even if the balance is small. The APR almost always wins. We dig into this in Store credit card payoff calculator.

Pick your card and run the math

Each per-card calculator below is pre-populated with that card’s typical APR range. You override with your specific APR (find it on your statement). The calculator then runs daily-balance accrual and shows months to payoff plus total interest.

If you have multiple cards across different issuers, use the main credit card payoff calculator on the home page, which handles a mixed portfolio.

What the per-card pages add beyond the main calculator

Each card-specific page includes:

• The card’s current APR range (verified against issuer pricing page on a daily cadence)
• Annual fee impact on total cost calculations
• Rewards structure and the rewards-vs-interest break-even on that specific card
• Issuer-specific minimum payment formula if known
• Card-specific FAQs (e.g., Apple Card daily interest UI quirks)

How issuer APRs are set

Most credit card APRs are variable, structured as “prime rate + X.XX%”. The prime rate moves with the federal funds rate (set by the Federal Reserve). As of Q1 2026, prime is around 8.5%, and most cards add 12-20 percentage points on top, giving the 21-29% APRs seen in market data.

The variable margin (the X.XX% added to prime) is set when you open the card and depends on your credit profile at application. It does not change unless you trigger a penalty APR (typically caused by 60+ days late payment).

Variable APR makes long-term math approximate

Because APRs change with prime, a 36-month projected payoff at today’s APR may end up costing $200-500 more or less depending on rate moves. The calculator output is a current-rate snapshot. We recompute the per-card pages whenever the Federal Reserve H.15 release shows a prime change.

Why some cards charge daily compounding more aggressively

All major U.S. credit cards compound daily on the calendar-year-365-day basis. Some retail credit cards compound on a 360-day basis, which is mathematically more aggressive (the daily rate is higher). Always check your card terms; the disclosed APR is the same, but the effective interest can differ slightly.

The grace period reality

Most credit cards offer a “grace period” on new purchases: if you pay your statement balance in full by the due date, no interest is charged on purchases. As soon as you carry any balance, the grace period typically goes away on most cards: new purchases accrue interest from the transaction date.

This is the trap people fall into. Carrying $200 on the card you also use for groceries means every grocery purchase accrues interest from day 1. To preserve the grace period on new purchases, pay the statement balance to zero each month. (See Consumer Financial Protection Bureau grace period guide.)

All 15 per-card pages

Chase:

• Chase Sapphire Preferred payoff calculator
• Chase Sapphire Reserve payoff calculator

American Express:

• Amex Gold payoff calculator
• Amex Platinum payoff calculator

Citi:

• Citi Premier payoff calculator
• Citi Double Cash payoff calculator

Discover:

• Discover it payoff calculator

Capital One:

• Capital One Venture payoff calculator
• Capital One Quicksilver payoff calculator

Bank of America:

• Bank of America Travel Rewards payoff calculator
• Bank of America Customized Cash payoff calculator

Wells Fargo:

• Wells Fargo Active Cash payoff calculator

US Bank:

• US Bank Cash+ payoff calculator

Other major:

• Apple Card payoff calculator
• Store credit card payoff calculator

Related hubs

• Credit card payoff calculator (home) , pillar tool, multi-card
• Credit card APR & interest calculator
• Avalanche vs snowball method
• Balance transfer calculator

Frequently asked questions

Why does my credit card APR vary by purchase type?

Most cards have multiple APRs: purchase, cash advance, balance transfer, and sometimes promotional. Cash advance APRs are typically 5-10 percentage points above purchase APRs. Balance transfer APRs may be promotional (0%) or regular. Your statement breaks them out separately.

How do I find the APR on my credit card?

Look at your most recent statement. Section titled “Interest Charge Calculation” or “APR Information” lists each balance type and its current APR. You can also see it in your card’s online account under “Statements” or “Pricing & Terms.” If the card is variable, the listed APR is the current rate, not the application-time rate.

Why are store credit card APRs so high?

Per CFPB 2025 data, private label store cards averaged 28.93% APR in 2024, vs 22.30% for general purpose. The structural reason: store cards are easier to qualify for (lower credit-score bar), the issuer takes more risk, and they price the risk in. Add deferred-interest promotions and store cards become particularly expensive when not paid in full.

Should I close a paid-off credit card?

Generally no. Closing reduces your total available credit, which raises utilization on remaining cards and can hurt your credit score. The exception is when an annual fee no longer makes sense for the rewards you use; in that case, downgrading to a no-fee card from the same issuer (which keeps the account history) is often better than closing.

Does my credit limit affect my APR?

Not directly. Your APR is set at application based on your credit profile. Higher credit limits typically come with the same APR. What changes with a higher limit is your utilization ratio (balance / limit), which affects credit score, which affects future APR offers.

Are airline miles or points worth carrying a balance?

Almost never. A 2% cash back card pays $2 per $100 spent. Carrying that $100 at 22% APR costs $1.83 in the first month and over $5 by month three. The interest exceeds the rewards by a wide margin within 60-90 days. If you are paying off a balance, pause spending on the rewards card; use a debit card or a different no-balance card.

Do all credit cards use daily compounding?

Nearly all major U.S. credit cards use daily compounding on a 365-day basis. Some retail and store cards use 360-day compounding (slightly more aggressive). Apple Card displays the daily interest calculation in its UI in real time. The math is the same; the disclosure is just clearer.

What is a penalty APR?

A penalty APR (typically 29.99%) is triggered by 60+ days of late payment on most cards. It applies to existing balances on some cards (subject to CARD Act rules) and to new purchases on most. It typically remains in effect for at least 6 months. Restoration to the standard APR requires 6+ consecutive on-time payments.

Are credit union cards lower APR?

Often yes. Federal credit unions are capped at 18% APR by federal law for most card types. Credit union credit cards average 12-15% APR, vs 22% at major banks. If you qualify for a credit union (employer, alumni, geography, family member), their cards can save several percentage points.

Why does the CFPB report show 22.30% but the Federal Reserve shows 21.00%?

Different surveys with different scopes. The Fed’s G.19 measures interest rates on credit card accounts at commercial banks. The CFPB’s report surveys card issuers directly and reports rates on actual carried balances. Both are accurate; they measure slightly different cuts of the market.