Credit Card Repayment Calculator
See how many months it'll take to clear a credit card balance at a given payment, or work out the payment needed to clear it by a target date.
Mode
Credit card repayment
Months to Clear
27 months
Assumes interest accrues monthly on the outstanding balance and the payment stays the same throughout. Real card providers may calculate interest slightly differently (e.g. daily accrual), and minimum payments usually change as the balance falls.
How credit card interest works
Credit card interest is charged on your outstanding balance each month - if you only pay the minimum, most of that payment can go towards interest rather than reducing what you owe, which is why balances can take a surprisingly long time to clear. Making a fixed, larger payment each month (rather than a shrinking minimum) clears the balance faster and cuts the total interest paid substantially.
When a payment won't clear the balance
If your monthly payment doesn't exceed the interest charged (plus any new spending on the card), the balance never reduces - it grows instead. This calculator checks for that and tells you clearly rather than showing a payoff date that would never actually arrive.