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Credit Card Interest Calculator
See the real cost of carrying a balance. Enter what you owe, your APR and how you plan to pay, then press Calculate to find your payoff time and total interest.
Written by TopicDrill Editorial Team·Updated June 2026
Balance over time
Balance owed
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How the credit card interest calculator works
Each month the tool adds interest based on your APR, then subtracts your payment, and repeats the cycle until the balance is gone. You can model a fixed monthly payment, where you commit to the same dollar amount every month, or a percent-of-balance minimum, which shrinks as the balance does.
The headline figure is how long the debt lasts, and the breakdown shows the total interest you hand over along the way. The chart traces your balance month by month so you can watch how quickly, or how slowly, it falls toward zero.
A worked example
Carry a 6,000 dollar balance at 22 percent APR. Pay a fixed 250 dollars a month and you clear it in a little over two years, paying roughly 1,500 dollars in interest. Switch to a 3 percent minimum with a 35 dollar floor and the timeline stretches for many years while interest climbs well past that, because each payment keeps shrinking.
Things to keep in mind
Real cards may compound daily and apply fees, so treat the total as a close estimate. The single biggest lever is paying more than the minimum and keeping the amount steady. For consumer guidance on managing card debt, see the Consumer Financial Protection Bureau. If you are weighing a payoff loan instead, compare it with our future value calculator to see what the same money could earn elsewhere.
Frequently asked questions
How is credit card interest calculated?
Card issuers turn the annual percentage rate into a smaller periodic rate and apply it to your balance each cycle. This calculator divides the APR by twelve to charge interest monthly, then subtracts your payment, repeating until the balance reaches zero so you can see the full cost.
Why does paying only the minimum cost so much?
A percent-of-balance minimum shrinks as the balance falls, so each payment covers less principal over time. Much of every payment goes to interest, which is why a minimum-only plan can take many years and cost more in interest than the original balance.
What happens if my payment is too small?
If a fixed payment is less than or equal to the first month of interest, the balance never goes down and the debt grows instead. The calculator flags this so you know your payment has to exceed the monthly interest charge before you make any progress.
How can I pay off my card faster?
Pay more than the minimum and keep the dollar amount fixed rather than letting it drop with the balance. Even a small increase shortens the timeline and cuts total interest sharply. Switching the calculator to a fixed payment shows the effect of committing to a steady amount.
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