CalcStudioFinancial Calculators for BusinessEnter the balance, the card's rate and what you pay each month, and this calculator counts the months until the card is clear and the interest you pay along the way. Add what you keep spending on the card and the picture changes, often by more than people expect.
Live estimate
See how ongoing spending stretches out your payoff - then plan the payment that clears the card.
Your estimate
Estimated time to pay off
Total interest
Total paid
24 monthly payments
Reducing monthly spending or increasing the payment shortens the payoff time and cuts interest.
Estimated credit card balance after each monthly payment (including new spending).
Each month: the interest charged, what goes off the card, and what is left.
| Month | Interest | Principal | Payment | Balance |
|---|---|---|---|---|
| 1 | $183 | $617 | $800 | $9,383 |
| 2 | $172 | $628 | $800 | $9,055 |
| 3 | $166 | $634 | $800 | $8,721 |
| 4 | $160 | $640 | $800 | $8,381 |
| 5 | $154 | $646 | $800 | $8,035 |
| 6 | $147 | $653 | $800 | $7,682 |
| 7 | $141 | $659 | $800 | $7,323 |
| 8 | $134 | $666 | $800 | $6,957 |
| 9 | $128 | $672 | $800 | $6,585 |
| 10 | $121 | $679 | $800 | $6,206 |
| 11 | $114 | $686 | $800 | $5,819 |
| 12 | $107 | $693 | $800 | $5,426 |
| 13 | $100 | $701 | $800 | $5,026 |
| 14 | $92 | $708 | $800 | $4,618 |
| 15 | $85 | $715 | $800 | $4,202 |
| 16 | $77 | $723 | $800 | $3,779 |
| 17 | $69 | $731 | $800 | $3,349 |
| 18 | $61 | $739 | $800 | $2,910 |
| 19 | $53 | $747 | $800 | $2,463 |
| 20 | $45 | $755 | $800 | $2,009 |
| 21 | $37 | $763 | $800 | $1,545 |
| 22 | $28 | $772 | $800 | $1,074 |
| 23 | $20 | $780 | $800 | $593 |
| 24 | $11 | $593 | $604 | Paid off |
Worked example: A $5,000 balance at 19.95% paid at $250 a month, with nothing new spent on the card, takes 25 months and costs $1,129 in interest, $6,129 in all.
Would one loan be cheaper than several?
Lists each debt and shows what one combined loan would cost each month compared with today.
Shows: Repayments and interest across every current debt, against a single consolidated loan, and the monthly difference.
Is there money left at the end of the month?
Add up income and spending in any frequency to see your monthly surplus or shortfall and your savings rate.
Shows: Total income against total expenses, the surplus or shortfall, and where each dollar goes.
What will my repayments be?
Work out weekly, fortnightly or monthly repayments on any loan, plus the total interest and the date it is paid off.
Shows: Weekly, fortnightly or monthly repayments, total interest and the full schedule, with an interest-only period if you want one.
