Credit Card Calculator

Calculate payoff time, interest saved with extra payments. Minimum payment warnings included. Free credit card debt calculator for financial freedom.

$
%

How do you plan to pay off?

Pay $ per month
or use: Interest + 1% of Balance 2% 3% 4% 5%

Results

Time to Pay Off

Payoff Time 0 months
Payoff Date -
Warning:
Current Balance
$0
Monthly Payment
$0
Monthly Interest
$0
Total Interest
$0
Total Amount Paid
$0

Payment Strategy Comparison

Payment Strategy
Monthly Payment
Total Interest
Payoff Time
Minimum (2%)
$0
$0
-
Your Payment
$0
$0
-
Recommended (3%)
$0
$0
-
Aggressive (5%)
$0
$0
-

Note: This calculator uses the Average Daily Balance method for interest calculations, which is the most common method used by credit card companies.

Minimum Payments: Making only minimum payments can result in paying significantly more interest over time. Consider paying more than the minimum to save on interest and pay off your debt faster.

APR vs Monthly Rate: Your monthly interest rate is your APR divided by 12. For example, an 18% APR equals 1.5% monthly interest.