Credit Card Repayment Calculator
Estimate how long it could take to pay off your credit card balance and how much interest you may pay based on your balance, APR and monthly payment.
Overview
This credit card repayment calculator estimates how long it may take to clear a card balance based on your current balance, APR, planned monthly payment and any recurring monthly fee. It can help you compare repayment options and see the cost of carrying debt over time.
How it works
The calculator converts your annual APR into a monthly interest rate, then estimates how many months it would take for fixed monthly payments to reduce the balance to zero. It also adds any monthly fee you enter and uses that to estimate the total amount repaid and the total cost above the original balance. If your payment is too low to cover monthly charges, the result should be treated as a warning sign rather than a reliable payoff plan.
How to use this calculator
- 1Enter your current credit card balance.
- 2Add the card's APR as a yearly percentage.
- 3Enter the amount you expect to pay each month.
- 4Include any recurring monthly account fee if your card has one.
- 5Review the estimated payoff time, total repaid and interest plus fees.
Example Calculation
Current balance
$5,000
Annual percentage rate (APR)
20%
Monthly payment
$150
Monthly fee
$0
Estimated payoff time
49 months
For a $5,000 balance at 19.9% APR with $150 monthly payments, the balance would be cleared in about 46 months, with total repayment of roughly $6,900 and about $1,900 in interest.
Frequently asked questions
What does this credit card repayment calculator estimate?
It estimates how long it may take to pay off your credit card balance, how much you may repay in total, and how much of that total could be interest and fees.
Does the calculator include new card spending?
No. It assumes you stop adding new purchases, transfers, cash advances and extra charges to the card balance.
Why does a small monthly payment lead to a long payoff time?
Because a large share of each payment may go toward interest first, leaving less to reduce the balance principal.
What if my monthly payment is lower than the interest charged?
In that case, your balance may not fall meaningfully and could even keep growing once fees or statement timing are considered.
Is APR the same as the monthly interest rate?
No. APR is an annual rate. This calculator converts it into an approximate monthly rate by dividing by 12 after converting from a percentage.
Will my card issuer show the exact same result?
Not always. Card issuers may use specific daily balance methods, fees, minimum payment rules and statement dates that can change the actual payoff timeline.
Explore Related Calculators
Assumptions and warnings
Assumptions
- Interest is compounded monthly using the APR entered.
- Your balance does not increase with new spending, cash advances or penalty charges.
- You make the same payment every month until the balance is cleared.
- Any monthly fee entered stays constant for the whole repayment period.
- Results are estimates and may differ from your card issuer's actual calculations and statement timing.
Warnings
- This calculator provides an estimate only and is not financial advice.
- If your payment is close to or below monthly interest and fees, repayment may take much longer or may not reduce the balance meaningfully.