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Credit card interest calculator

See how long it takes to pay off a card debt and how much interest it costs you.

What you currently owe on the card.
The card's nominal annual rate (TIN); each month it is applied divided by 12. 'Revolving' cards are often 20% or more (the advertised APR is slightly higher).
Fixed payment: you always pay the same. Minimum payment: you pay a % of the balance each month ('revolving' mode); as the balance falls so does the payment, so the debt drags on for years.
How much you pay each month. If it is too low, almost all goes to interest.
Months to pay off
26
Total interest
€514
Total paid
€2,514

Debt over time

Show the chart data: Debt over time

Information, not tax or financial advice.

How the credit card interest calculator works

Revolving credit (paying your card "in instalments" or with a monthly minimum) is among the most expensive debt there is: with APRs above 20 %, interest piles up fast.

How to read the result. You'll see how much you'll pay in total interest and how long it'll take to clear the debt. You can choose between two payment modes:

  • Fixed payment: you pay the same amount every month.
  • Minimum payment (% of balance): the typical revolving mode. You pay a percentage of the balance (with a floor in euros); as the balance falls so does the payment, so the debt drags on for far longer.

Worked example (default values). A €2,000 debt at 22 % with a fixed payment of €100/month:

  • It'd take about 26 months to clear.
  • You'd pay about €514 in interest alone (total €2,514).

The minimum-payment trap. That same €2,000 debt at 22 %, but paying the minimum payment of 3 % of the balance (with a €25 floor):

  • The first payment would be €60 and it'd take about 127 months (over 10 years).
  • You'd pay about €2,300 in interest: more than the debt itself! (total ~€4,300).

An important note. Paying off revolving debt is probably the best "investment" available: no safe investment earns what that debt costs. Turn off deferred payment and pay the balance in full each month.

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