Credit Card Payment Calculator

This credit card calculator assumes that you are not using your credit card while you are paying off the balance, that your interest rate remains constant and that interest is compounded monthly. This tool is for educational use only, may not reflect the same calculation as your financial institution and you should consult a qualified financial adviser and your financial institution when making financial decisions. Not all cards have compounded interest, please check individual card terms and conditions for confirmation.

  • Outstanding Balance

    Amount left to pay off on your credit card.

  • Card Interest Rate

    Interest rate charged on your outstanding balance.

  • Expected Monthly Payment

    Amount per month you are willing to pay towards your balance.

Payment Schedule Summary

Time to Pay Off
Interest Paid
Total Paid
Fixed Payment - $
months $0.00
$0.00
Minimum payment*
months $0.00
$0.00
Minimum + $10*
Minimum + $20*

* Note: Minimum payment schedule is calculated based on a rate of 3% of the oustanding balance or $10, whichever is higher.

Fixed Payment Schedule - $

Month
Payment Interest Paid Principal Paid
Remaining Balance
1
$30.00 $26.08 $3.92
$974.06
1
$30.00 $26.08 $3.92
$974.06