Credit Card Calculator
Minimum payments are engineered to keep balances alive for decades. Enter your balance and payment to see the true timeline — then test bigger payments.
Debt-free in
3 yr 2 mo
- Number of payments
- 38
- Total interest
- $3,400.00
- If you paid $600.00 instead
- 16 payments
How the Credit Card Calculator works
The calculation follows the standard method used across the US — no shortcuts, no hidden assumptions. Here is exactly what happens behind the scenes:
Formula
n = −ln(1 − rB/PMT) ÷ ln(1+r)
Frequently Asked Questions
Why do minimum payments stretch payoff for years?
Minimums cover interest plus ~1% of balance. On $8,000 at 24% APR that runs 15+ years and doubles the cost — a fixed larger payment collapses it.
Balance transfer or bigger payment?
A true 0% transfer beats 24% APR instantly if you finish inside the promo window even with a 3–5% fee; otherwise raise the payment instead.
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