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Credit Card Payoff Calculator Excel
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Credit Card Payoff Calculator Excel to calculate early payoff for your credit card. Enter the current balance, interest rate, monthly payment, and the number of years that you wish to pay off your credit card. You will be shown a new credit card amortization schedule which is exportable to excel.
Original vs. Early Payoff |
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| Original | Early Payoff | |||||
|---|---|---|---|---|---|---|
Monthly Payment |
$200.00 | $300.00 |
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Expected Payoff Time |
62 months | 35 months |
||||
Total Interest |
$4,308.98 | $2,293.42 | ||||
Total Principal |
$8,000.00 | $8,000.00 | ||||
Total Payment |
$12,308.98 | $10,293.42 | ||||
Total Interest Savings |
$0 | $2,015.56 | ||||
Payoff Date |
Jan, 2030 | Oct, 2027 | ||||
Early Payoff Amortization Schedule |
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| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
| Dec, 2024 | 1 | $120.00 | $180.00 | $300.00 | $7,820.00 | |
| Jan, 2025 | 2 | $117.30 | $182.70 | $300.00 | $7,637.30 | |
| Feb, 2025 | 3 | $114.56 | $185.44 | $300.00 | $7,451.86 | |
| Mar, 2025 | 4 | $111.78 | $188.22 | $300.00 | $7,263.64 | |
| Apr, 2025 | 5 | $108.95 | $191.05 | $300.00 | $7,072.59 | |
| May, 2025 | 6 | $106.09 | $193.91 | $300.00 | $6,878.68 | |
| Jun, 2025 | 7 | $103.18 | $196.82 | $300.00 | $6,681.86 | |
| Jul, 2025 | 8 | $100.23 | $199.77 | $300.00 | $6,482.09 | |
| Aug, 2025 | 9 | $97.23 | $202.77 | $300.00 | $6,279.32 | |
| Sep, 2025 | 10 | $94.19 | $205.81 | $300.00 | $6,073.51 | |
| Oct, 2025 | 11 | $91.10 | $208.90 | $300.00 | $5,864.61 | |
| Nov, 2025 | 12 | $87.97 | $212.03 | $300.00 | $5,652.58 | |
| Dec, 2025 | 13 | $84.79 | $215.21 | $300.00 | $5,437.37 | |
| Jan, 2026 | 14 | $81.56 | $218.44 | $300.00 | $5,218.93 | |
| Feb, 2026 | 15 | $78.28 | $221.72 | $300.00 | $4,997.22 | |
| Mar, 2026 | 16 | $74.96 | $225.04 | $300.00 | $4,772.17 | |
| Apr, 2026 | 17 | $71.58 | $228.42 | $300.00 | $4,543.76 | |
| May, 2026 | 18 | $68.16 | $231.84 | $300.00 | $4,311.91 | |
| Jun, 2026 | 19 | $64.68 | $235.32 | $300.00 | $4,076.59 | |
| Jul, 2026 | 20 | $61.15 | $238.85 | $300.00 | $3,837.74 | |
| Aug, 2026 | 21 | $57.57 | $242.43 | $300.00 | $3,595.31 | |
| Sep, 2026 | 22 | $53.93 | $246.07 | $300.00 | $3,349.24 | |
| Oct, 2026 | 23 | $50.24 | $249.76 | $300.00 | $3,099.47 | |
| Nov, 2026 | 24 | $46.49 | $253.51 | $300.00 | $2,845.97 | |
| Dec, 2026 | 25 | $42.69 | $257.31 | $300.00 | $2,588.66 | |
| Jan, 2027 | 26 | $38.83 | $261.17 | $300.00 | $2,327.49 | |
| Feb, 2027 | 27 | $34.91 | $265.09 | $300.00 | $2,062.40 | |
| Mar, 2027 | 28 | $30.94 | $269.06 | $300.00 | $1,793.33 | |
| Apr, 2027 | 29 | $26.90 | $273.10 | $300.00 | $1,520.23 | |
| May, 2027 | 30 | $22.80 | $277.20 | $300.00 | $1,243.04 | |
| Jun, 2027 | 31 | $18.65 | $281.35 | $300.00 | $961.68 | |
| Jul, 2027 | 32 | $14.43 | $285.57 | $300.00 | $676.11 | |
| Aug, 2027 | 33 | $10.14 | $289.86 | $300.00 | $386.25 | |
| Sep, 2027 | 34 | $5.79 | $294.21 | $300.00 | $92.04 | |
| Oct, 2027 | 35 | $1.38 | $92.04 | $93.42 | $0.00 | |
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