Credit Card Interest Calculator: See What That Balance Is Really Costing You
See how long your balance will really take to pay off, how much interest it will cost you, and what it takes to be debt-free on your own timeline.
View full payoff schedule (0 months)
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Paying just the minimum can more than double the time it takes to clear your balance. Try the savings calculator to see what that same money could earn you once the card is paid off.
How this calculator works
Assumptions
- Your APR stays fixed and interest is charged monthly at APR divided by 12.
- Payments are applied at the end of each month.
- You make no new purchases on the card.
- No fees, penalty rates, or promotional rates.
What your result means
The payoff date and total interest show what the balance costs you at that payment. In payoff-date mode, the result is the fixed monthly payment needed to reach zero by your target date.
Limitations
Card issuers calculate interest on your average daily balance and may change your APR, so real numbers will differ somewhat. Minimum payments usually change as your balance falls, which this tool does not model.
Results are estimates for education, not personalized financial advice. For decisions about your own situation, consider talking with a qualified financial professional.
Example
A $5,000 balance at 24% APR with a $150 monthly payment takes about 56 months to pay off and costs about $3,322 in interest, assuming no new charges.
This calculator is an educational estimate, not financial advice. It assumes a fixed APR, standard monthly compounding, and that payments are applied at the end of each month, and it doesn’t account for fees, promotional rates, or changes to your APR. Your card issuer’s actual terms will determine your real payoff timeline.