Credit card payment calculator
Set a target date to be free of card debt and see the monthly payment and the interest you will pay on the way.
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Processing and privacy: The result is calculated inside your browser and your data is not sent to any server.
How to use it
- Enter card balance, annual interest rate (apr) and pay off within.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Payment = balance × r ÷ (1 − (1 + r)^−n), where r = APR ÷ 12 and n is the number of months. At 0% the payment is balance ÷ n.
Example
Inputs: Card balance = 5,000, Annual interest rate (APR) = 24 %, Pay off within = 12 months. Result: Required monthly payment: 472.80; Total interest: 673.58; Total paid: 5,673.58.
Limits and caveats
- Assumes no new spending on the card and a fixed APR.
- The payment is not rounded; your bank rounds to the smallest coin.
Questions about this tool
How is this different from the payoff calculator?
Here you choose the time and get the payment. The payoff calculator takes a payment and returns the time.
Does this replace the minimum payment?
No. If the result is below your bank minimum, you still have to pay at least the minimum.
Why is interest lower for a shorter term?
The balance falls faster, so each month charges interest on a smaller amount.