Credit card payment calculator

Our credit card payment calculator is a nifty little tool that can show you several different things when it comes to paying off your credit card. It's great if you're planning to get out of debt or if you simply want to take control of your monthly payments.

Here's how to use it

Want to get started now? Click here to go straight to the calculator.

How long will it take to pay off my credit card?

The credit card payment calculator can show you how long it will take you to pay off your credit card when you pay a certain amount each month. If you're creating a budget or working out a plan to get out of debt and want to know how long it will take, then this is the tool for you. Here's how:

1. Simply input your credit card balance
2. Insert the APR of your credit card
3. Select 'Number of instalments'
4. Insert the amount you want to pay each month
5. Click 'Calculate'

The result will show you how many instalments you need to make to pay off the debt. The calculation assumes that you're going to tuck the card away and not use it (i.e. the balance won't increase). Based on that, it will show you the overall cost over the period.

Got a deadline? Find out how much you need to pay off each month

Our credit card calculator can show you much you need to pay off each month if you're working to a particular timeframe. So, if you want to pay off your credit card within 12 months, we'll show you exactly how much you'll need to pay off each month. Here's how:

1. Simply input your credit card balance
2. Insert the APR of your credit card
3. Select 'Number of months'
4. Insert the number of months you want to pay off the credit card (i.e. 12 months)
5. Click 'Calculate'

The credit card payment calculator will tell you how much you have to pay off each month and what the total cost you will pay back.

It's a great way to see how much you save by paying more of your credit card off each month.

See what difference a lower APR will make

You can also play around with interest rates, so if you're looking to switch your credit card to a lower interest rate card, and want to know how much you'll save each month, or save overall by using a card with a lower APR, then the credit card payment calculator will show you.

Simply change the APR rate and see what a difference it makes.

Remember, this credit card payment calculator is for illustrative purposes only. Your bank or credit card provider may use slightly different calculations to work out the total cost and so your actual figures may differ slightly.