How this calculator works
The calculator applies monthly interest to the remaining balance, subtracts the fixed payment, then repeats until the balance reaches zero. It flags payments that are too low to reduce the first month of interest.
Credit Card Repayment Calculator
Estimate the payoff time and interest cost for a credit card balance when you pay a fixed amount each month.
What to compare
Run the same balance with your current payment, then add an extra amount you could realistically afford. The useful number is not only the monthly payment. It is the difference in payoff time and total interest.
Useful caution
This is a simple repayment estimate. Real cards can have fees, promotional rates, cash-advance rates, payment allocation rules and changing minimum payments. Check your card statement before using the result as a plan.