Credit Card Interest Calculator
Enter your balance and APR to see what your payment plan really costs — next to what minimum payments would cost.
—Your payment: payoff time
—Your payment: interest paid
—Minimums only: payoff time
—Minimums only: interest paid
Model: interest accrues monthly (APR ÷ 12); the minimum payment follows the common issuer formula — that month's interest plus a percent of the balance, with a $25 floor. Your card's exact formula may differ slightly; check your statement. Educational tool — not individualized advice.
The minimum-payment trap, quantified
Minimum payments are calculated to keep you paying for years. Compare the two columns above — the gap between your fixed payment and "minimums only" is the price of the trap. Even $50 above the minimum collapses the timeline dramatically.
Related: How to build credit without paying a cent of interest.