Credit Card Calculator
Calculate interest charges and time to pay off your credit card balance.
Credit Card Calculator
Calculate interest charges and time to pay off your credit card balance.
Debt Payoff Formula
ℹ️ Total interest = (PMT × n) – P. Your payment must exceed the monthly interest charge.
Disclaimer
Results provided by this calculator are for informational and educational purposes only. They are based on the values you enter and standard formulas, and should not be considered financial, medical, legal, or professional advice. Always consult a qualified professional before making important decisions based on these results. Roughtools makes no warranties regarding the accuracy or completeness of these calculations for your specific situation.
Frequently Asked Questions
Pro Tips
Pay off the highest interest rate debt first (avalanche method) to minimise total interest paid mathematically. But the snowball method (lowest balance first) works better psychologically for many people.
If your payment doesn't exceed the monthly interest charge, your balance grows forever. Run this calculator first to ensure your payment is sufficient before committing.
Balance transfer cards with 0% introductory APR can save hundreds if you can pay off the balance within the promotional period — but read the fine print on fees and reversion rates.
An extra $100/month toward a $10,000 credit card at 19.9% APR reduces payoff time from 10+ years to under 5 years and saves over $6,000 in interest.
When to Use This Calculator
See exactly how long it takes to pay off credit card debt at your current payment — motivation to pay more.
Calculate payoff timelines for multiple debts to prioritise by interest rate and minimise total interest.
See how much time and money an extra $50–200/month saves to motivate accelerated payoff.
Compare payoff at current rate vs 0% promotional rate to decide if a balance transfer makes financial sense.
Calculate how long minimum payments take — and how much interest you'll pay — on any debt balance.
About the Credit Card Calculator
This credit card calculator computes your monthly interest charge, total payoff timeline, and total cost based on your balance, APR, and monthly payment. See the dramatic difference between paying minimums versus paying a fixed amount, and discover exactly how much the minimum payment trap costs you. Built for cardholders who want to understand and eliminate credit card debt efficiently.
How to Use the Credit Card Calculator
- 1
Enter your current credit card balance.
- 2
Enter your credit card's annual interest rate (APR) — found on your statement.
- 3
Enter your planned monthly payment (or choose minimum payment).
- 4
See months to payoff, total interest, and total amount paid.
- 5
Adjust your payment to see how extra dollars dramatically cut interest.
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