Credit Card Repayment Calculator
Calculate how long it takes to pay off a credit card balance and how much interest you’ll pay based on APR and your payment strategy.
Current outstanding balance on your credit card.
Annual percentage rate charged on your credit card balance.
Fixed amount you plan to pay toward the credit card each month.
Automatically calculates a monthly payment based on a percentage of your current balance.
Payoff Summary
Time to pay off balance
7 years 10 months
Total interest paid
$4,311.18
Principal vs Interest
Breakdown of how much of your payments go toward principal versus interest.
Balance/interest graph
How your credit card balance declines and interest accumulates over time.
About this calculator
This credit card repayment calculator estimates how long it will take to pay off a credit card balance and how much interest you’ll pay based on your APR and payment strategy.
It helps you understand the cost of carrying a balance and how increasing your monthly payment can reduce interest and payoff time.
What each input means
- Credit card balance – The amount you currently owe on your credit card.
- Interest rate (APR) – The annual percentage rate charged on your balance.
- Monthly payment – The amount you plan to pay toward the balance each month.
- Payoff strategy – Whether you choose a fixed payment amount or a payment based on a percentage of your balance.
How this calculator works
The calculator converts your annual APR into a monthly interest rate and applies it to your balance each month.
It then subtracts your chosen payment amount, tracking how much goes toward interest versus principal until the balance reaches zero.
If a percentage-based payment is selected, the monthly payment is recalculated as the balance declines.
Factors that affect Results
- APR – Higher interest rates dramatically increase total interest paid.
- Monthly payment size – Larger payments reduce payoff time and interest.
- Payment strategy – Percentage-based payments may decrease over time, extending payoff duration.
- Balance size – Larger balances accrue more interest over time.
Key assumptions & limitations
- Fixed APR – Assumes the interest rate does not change.
- No new charges – Assumes no additional spending on the card.
- On-time payments – Payments are made consistently each month.
- Estimates only – Results are illustrative and not financial advice.