Finance · free · no sign-up
Credit Card Calculator
See how long it will take to pay off a credit card and how much interest you will pay if you only make a fixed monthly payment.
Credit Card Calculator
Calculate how long to pay off your balance and see total interest cost
0
Months to Pay Off
Based on fixed monthly payments
Total Interest
$0
Total Cost
$0
Payoff Date
N/A
Balance Reduction Path
A credit card balance shrinks slowly when you pay only the minimum — that is by design, and the interest bill shows it. This calculator shows your payoff date and total interest at the minimum payment, and at any fixed monthly amount you choose.
How to use this calculator
- Enter your current balance and the card's APR.
- Enter the minimum payment rule, or a fixed monthly payment.
- Press calculate to see the payoff time and total interest.
The fixed-payment effect
Paying a fixed amount — even the same as this month's minimum, held constant — clears the balance years sooner than the shrinking minimum does. Compare both in the calculator; the interest saving is usually the motivation people need.
Frequently asked questions
How is the minimum payment calculated?
Commonly interest for the month plus about 1% of the balance, or a small fixed floor, whichever is higher. Your statement shows the exact rule.
Is it better to pay one card or spread payments?
Pay minimums on all cards, then throw every spare amount at the highest-APR card (the avalanche method) to minimise total interest.
Does paying early in the cycle help?
Slightly — interest is usually charged on the average daily balance, so earlier payments reduce it a little. Paying more helps far more than paying earlier.