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Credit Card Interest Calculator

See how long a balance could take to pay off, and what that could cost in interest.

The amount you owe today.

From your statement. Use the purchase APR.

The same amount paid every month.

Estimate for education only, not a quote or an offer from any lender. Your issuer's terms and calculations determine what you actually pay. Numbers you enter stay in your browser; they are not sent to or stored by CreditPilot.

How this calculator works

Each month, it charges interest on your balance at one-twelfth of your APR, adds the interest to the balance, then subtracts your payment. It repeats these steps until the balance reaches zero.

Assumptions

  • Your payment stays the same, and you make no new purchases.
  • Your APR stays the same, and no fees are added.
  • Interest is calculated monthly. Many issuers use a daily rate, so your real cost may be somewhat different.

Worked example

A $2,000 balance at 21.19% APR with a $100 monthly payment is paid off in 25 months, with about $488.97 in interest and $2,488.97 in total payments. Doubling the payment to $200 takes 12 months and about $220 in interest.

Reading your result

If the calculator says your payment does not cover the interest, your balance would keep growing at that amount, so you would need a higher payment. If your balance is large relative to your income, consider speaking with your issuer or a nonprofit credit counselor.

Learn more in What Is APR on a Credit Card? or try the debt payoff calculator, which shows what an extra $50 a month could do.