Credit Card Interest Calculator

Estimates how long a credit card balance takes to pay off and how much interest you pay with a fixed monthly payment. It also shows a month-by-month payoff schedule and compares your fixed payment with an estimated minimum-payment path.

Enter the current balance, the card's nominal annual or monthly interest rate, and a fixed monthly payment you can sustain. Use one currency throughout. Compare the payoff dates and total interest, then review the schedule to see how each payment is divided between interest and principal.

A 5,000 balance at 22% nominal annual interest paid down with a fixed 200 monthly payment takes 34 months to reach zero, with about 1,749.88 in total interest paid. Automated tests verify this figure.

For an annual rate, this model uses monthly rate = APR ÷ 12. Monthly interest = current balance × monthly rate, then the fixed payment is subtracted. On a 5,000 balance at 22% APR, the first estimated month's interest is 5,000 × (0.22 ÷ 12) = 91.67. If the payment does not exceed the first month's interest, the calculator reports that the balance will not be paid off under these assumptions.

Many issuers calculate interest from a daily or average daily balance. A daily periodic rate is generally the APR divided by 360 or 365, depending on the issuer, and purchases, payments and fees can change the balance during the billing cycle. That statement-level method can produce a different charge from this calculator's equal-month estimate. Check the card agreement and statement for the actual balance method, rates and number of days used.

Interest continues to accrue on the balance left after each payment. Paying more than the minimum can reduce both payoff time and total interest because principal falls faster. The minimum-payment comparison is an illustration, not a prediction of an issuer's exact required payment.

The fixed-payment model assumes one constant rate, one payment per equal monthly period, and no new purchases, cash advances, fees, promotional periods or late payments. Real cards can use different APRs for different balance categories, daily compounding, grace periods and issuer-specific minimum-payment formulas.

This is an educational estimate, not financial or credit-counseling advice. The daily-rate explanation is based on US Consumer Financial Protection Bureau guidance; terms and protections vary by product and jurisdiction. Reviewed September 2026. Calculation runs locally in the browser, and Quiklio does not upload the entered values.