Credit Card Payment Calculator

Credit Card Payment Calculator

This will calculate how much you have to pay every month to eliminate your credit card balance in a certain amount of time. It will also calculate the amount of interest you will have paid during that time.

Current Balance($)
Amount Charged Per Month($)
Interest Rate (APR) (%)
Months to Pay Off Balance


 

Your credit card debt is considered revolving debt in your credit history. Missed or late payments will be reflected in your credit score and could make it more difficult for you to get additional credit – such as a mortgage or a line of credit – in the future.

Knowing your timeline to eliminate your credit card balance is a good step towards taking control of your finances. You will also want to keep your payments manageable within your overall budget.

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