Credit Card Interest Calculator
Our credit card calculator works out how long it will take you will take to pay off your current credit card balance, and the total interest you'll pay. Just enter your balance, interest rate and how much you usually pay off each month and let us do the work.
Know This:-If you want to reduce your interest costs, ask your bank to lower your credit card limit. The less you owe, the less interest you'll pay and the sooner you can pay it off.
How much do you owe on your credit card?
This rate of interest determines how much it costs for you to borrow on the credit card.
You can find your rate of interest on your credit card statement - it will be in a summary box at the top or at the end of your statement. In most cases, it will be somewhere between 12.50% and 29.99%.
If you don't know what it is and can't find it, contact your credit card provider - they will be able to tell you.
Enter the size of the payment you typically make each month.
If you are not sure how much you pay, find your last three statements and looks for 'payments', and see how much they were. If they are different, take an average of the three.
Use the slider above then update your results to see how adjusting your monthly payments can reduce the total amount you repay
Oops! Are you sure? This doesn't look right.
Oops! You'll need to repay more each month to pay off the card within the next 20 years.