Credit Card Interest Calculator

Your details

Choose whether you know your monthly payment (and want the payoff date) or want to find the payment needed to clear the debt in a set number of months.
The outstanding balance on your credit card today.
The annual percentage rate shown on your credit card statement. The calculator converts this to a daily periodic rate using APR / 365.
%
The amount you plan to pay each month. Must exceed the monthly interest charge to reduce the balance.
Currency
Total interest paidHigh interest cost
$1,351.81

The total interest cost over the full repayment period

Total amount paid$4,851.81
Months to pay off41months
Interest on first payment$58.85
Interest as % of total paid27.9%
27.9% %
Low<10%Moderate10%-25%High25%-40%Very High40%+

Interest will cost you $1351.81 (28% of total payments).

  • You will pay $1351.81 in interest on top of your $3500.00 balance, so the debt costs $4851.81 in total.
  • At this payment rate the card will be paid off in 3 years and 5 months.
  • Doubling your monthly payment to around $240 would cut payoff time and interest dramatically.

Next stepSet up an automatic payment for at least this amount each month to stay on track and avoid late fees.

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