Credit Card Payment Calculator

The credit card calculator assumes that you are not using your credit card while you are paying off the balance and that your interest rate remains constant. Interest is compounded monthly. This tool is for educational use only and you should consult a qualified financial adviser when making financial decisions.

  • 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 - $
Minimum payment*
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 - $

Payment Interest Paid Principal Paid
Remaining Balance
$30.00 $26.08 $3.92
$30.00 $26.08 $3.92