Credit Card Interest Calculator

See how much interest your credit card balance costs and how long it takes to pay off at a fixed or minimum payment.

LivePersonal FinanceURL: /credit-card-interest-calculator

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$
%
I’ll pay
$
Used for “A fixed amount”
%
A common issuer formula is interest + 1% of the balance, at least $25
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How to use this calculator

Enter your values. The result updates as you type; press Calculate to confirm and jump to the result on mobile. Use Share to send the calculator with your result.

Why minimum payments take so long

Minimum payments shrink as the balance shrinks, so most of each payment goes to interest for years. Example: $5,000 at 22.9% APR paying only interest + 1% each month (at least $25) takes about 11½ years and costs about $4,400 in interest, while a fixed $200 a month clears it in under 3 years with about $1,860 of interest. Card statements are required to show how long minimum payments would take.

Frequently asked questions

How is credit card interest calculated?

Usually daily: APR ÷ 365 × each day’s balance, added up over the billing cycle.

About this tool

Written by
[Author: to be assigned]
Reviewed by
Expert review pending
Last updated
31 Oct 2026

See our methodology and editorial policy. Think something’s off? Report an error with this tool.

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