Credit Card Interest & Payoff Calculator
Enter your balance, APR, and monthly payment to see how long it will take to pay off your credit card and how much interest you'll pay.
Your Details
Results
Time to Pay Off
2 years 11 months
Total Interest Paid
$1871.08
Total Amount Paid
$6871.08
How Credit Card Interest Works
Credit card interest is calculated daily based on your Annual Percentage Rate (APR) divided by 365. The resulting daily rate is applied to your outstanding balance each day, and the total is added to your statement at the end of each billing cycle.
Tips to Reduce Interest
- Pay more than the minimum payment each month
- Consider a balance transfer card with a 0% intro APR
- Pay your statement balance in full each month to avoid interest entirely
- Call your issuer to negotiate a lower APR