Credit card calculator
Credit Card Payoff Calculator
Estimate payoff time and interest cost for a credit card balance using your APR, minimum payment, and extra payment.
How this calculator works
The calculator applies monthly interest based on the APR you enter, then subtracts the listed monthly payment plus any extra payment amount.
Formula
Monthly interest = balance x APR / 12. New balance = balance + monthly interest - monthly payment.
Limitations
Credit card statements may use daily balance methods, fees, changing minimum payments, promotional APRs, or penalty APRs. This tool is a simplified educational estimate.
Important note
This page is not credit, lending, financial, tax, legal, or accounting advice.