Credit Card Interest Calculator
Estimate credit-card payoff time and interest from a balance, APR and fixed monthly payment, and compare an extra-payment scenario.
Calculation breakdown
Why credit-card payoff can take so long
Credit cards commonly charge high APRs. When a payment is only slightly above the monthly interest charge, little principal disappears. This calculator simulates the balance month by month so you can see how a fixed extra payment changes time and interest.
Frequently asked questions
Why might my statement interest differ?
Card issuers often calculate interest daily and may use an average daily balance.
What if my payment is below monthly interest?
The balance will not amortize under this simplified model, so the calculator flags the payment as too low.
Does an extra payment really matter?
At high APRs, consistently reducing principal earlier can materially reduce future interest.
Results are estimates for informational purposes only. Verify important financial, tax, real-estate or investment decisions with a qualified professional.