Credit Card Payment Calculator

Our Credit Card Payment Calculator will help you calculate how long it will take to pay off your credit card debt, given the amount of money you owe on your credit card, the yearly credit card interest rate and the monthly payments you are planning to make.

If you are looking for an answer of questions like "How long it will take me to pay off $10,000 in credit card debt with 18% interest rate, if I repay $300 monthly?", then our credit card calculator is the tool you need.

The Credit Card Payment Calculator has 3 inputs:

  • Credit Card Balance - This is the amount of money you owe on your credit card.
  • Credit Card Interest Rate - This is the annual credit card interest rate.
  • Payment per Month - This is the amount you plan to repay each month.

The Credit Card Payment Calculator has a single output:

  • Number of Months - This is the number of months you will need to pay off your credit card. If you choose monthly payment which is too low to cover the accumulated interest on the credit card debt the result will display the word "Infinity", and you'll have to increase your monthly payment in the calculation.

Credit Card Payment Calculation Example:

Joe have accumulated $10,000 credit card debt. He can afford to pay off $300 mothly and his annual credit card interest rate is 18%. Joe wants to know how many months will it take him to fully repay the credit card debt? Using the credit card calculator above he will find out that he needs 47 (almost 4 years) to get rid of his debt.

Important Notes

  • This credit card payment calculator assumes that your interest rate is constant during the life of the loan.
  • This credit card payment calculator is not intended to provide investment and/or financial advice and can be used for educational purposes only. We do not guarantee the accuracy of this credit card calculator and you should not rely on it for estimating your credit card payments. If you need financial advice please consult qualified financial adviser.