Credit Card Payment Calculator

$
The total debt balance you have currently in your credit card or cards. Get total if more than once.
$
Can you add some more payment monthly to finish off the debt earlier? Leave 0 if you pay only minimum.
$
Please check the due payment of the bank and write here. If you dont know you can try a fraction of balance.
%
This is the interest rate of your banks applied for over due accounts. To calculate APR check the APR calculator.

Your Payment Options

Here you can add your debt, possible payments and interest rate of your bank and see what is your options of payment. Calculator automatically suggest you paying %5-10-20 more or less according your pay off date. You can also see that when you squeeze in more payment and pay off earlier, you waste less money on interest. Also if you want to see all payment schedule you can use our Credit Card Payoff Calculator.

Multiple Credit Cards

For multiple credit cards you should also consider checking different approaches like avalanche or snowball methods where you pay more on high interest rate account first or least amount due first. 💸 Both approaches assumes you first pay the minimum due for all cards you have. Otherwise you can consider negotiating with your banks, maybe migrating your high interest account to low interest bank, or even apply for a lower interest loan to pay off your cards. Here is a video might help you to decide on pay off methods.



Example Interest Calculations

An example for an average credit card payment might be 14000$ of credit card balance with 4% interest rate. And assuming we pay 300$/month our pay off date comes 51 months later. Calculator suggests us 5 more payment options. If we pay 10% more we pay off 5 months earlier, 20% more 9 months earlier,... Eventually paying %50 more (450$) pay off date will be 33th month we also save 300$+ just from interests.