Credit Card Interest Calculator

Revolving interest and months to payoff from a minimum you set. Balance transfer is a mode. Estimates only.

Balance ($) *

APR (%) *

Minimum you describe

Percent of balance (%)

Dollar floor ($)

Mode

Smart Tips

• Interest is the balance times APR divided by 12, rounded to the cent. This is not an average daily balance.

• A percent minimum is based on the balance before that month’s interest, and it will not go under the dollar floor.

• If the minimum never covers interest, the balance does not pay off. The page will say so.

• Balance transfer is a mode here: a fee, a promo APR, and a promo length. It is not a second debt-payoff page.

The Formula

Interest = balance × APR ÷ 12

APR= Annual percentage rate
Divided by 12 for the month

Minimum= Your rule
Percent with a floor, or a fixed dollar

Fee= Transfer fee
Added to the balance in that mode

Promo= Intro months
Then the regular APR

The minimum percent uses the balance at the start of the month. The payment is the minimum, unless the remaining balance plus interest is smaller. A balance-transfer fee is added once, before month one. After the promo months, the regular APR is used.

Key Insights

Revolving, not one fixed debt payment

The minimum can change as the balance changes. The debt payoff page uses one fixed payment.

You describe the minimum

Issuers write different rules. Type the percent and floor, or the fixed amount, from the statement in front of you.

Balance transfer stays here

The fee and the promo rate are a mode, not another URL.

Equal months

Every month uses APR ÷ 12. A daily rate and the number of days in the month are not used.

Frequently Asked Questions

Each month, interest is the balance × APR ÷ 12, rounded to the cent. Months are treated as equal. This is not an average-daily-balance method.

Choose a percent of the balance, with a dollar floor, or a fixed dollar amount. The percent is applied to the balance at the start of the month, before that month’s interest. The payment is the larger of the percent and the floor.

The balance does not fall to zero. If it is still open after 600 months, the page says it does not pay off instead of inventing a payoff month.

It adds the transfer fee you enter to the balance, uses the promo APR for the promo months, then uses the regular APR. It is a mode on this page, not a separate payoff calculator.

Debt payoff applies one fixed payment to a balance. This page recalculates a revolving minimum and can include a balance-transfer promo.

Monthly interest = balance × APR ÷ 12. The minimum is the rule you enter. No card-issuer minimum table or live APR is used. Source: CFPB credit card interest explainer: https://www.consumerfinance.gov/ask-cfpb/how-does-my-credit-card-company-calculate-the-interest-rate-on-my-credit-card-en-44/.

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Months to payoff

Enter values to calculate

Total interest

Total paid

First payment

Starting balance

Note:Interest uses APR ÷ 12 on the balance at the start of each equal month. The minimum is the rule you type. This is an estimate, not a card statement.