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Credit Card Interest Calculator

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You can toggle the calculator to see how much cumulative interest you’ll pay until the debt is repaid entirely, or how much interest you’ll pay within a specific repayment period.

Credit Card Interest Calculator

How the Credit Card Interest Calculator Works

Start by entering your current credit card balance and current credit card APR. We can use the calculator’s default figures, $4,500 at 15%, as an example.

You’ll then be given the choice to either calculate by average monthly payment or calculate by months to pay off. 

Let’s start with an average monthly payment of $150. Hit calculate, and the calculator will provide the total credit card interest charges you’ll pay between now and the time the card is paid off. In the example we’re using, you’d pay $1,180.59 in interest charges.

If you instead choose to calculate by months to pay off, you can determine the interest you’ll pay within a specific period of time. We’ll use the default time period of 12 months. When we hit calculate, we see that we’ll pay $373.95 in interest during that 12-month period.


You can use our credit card interest calculator to test out different repayment scenarios and to see how much you’ll save by making higher monthly payments. 

If increasing your monthly repayment amount won’t cut your interest down to a satisfactory level, don’t give up. Check out our recommended strategy for paying off credit card debt quickly.

Read more:

  • The Best Low-Interest Credit Cards
  • How to Use a Credit Card Responsibly

About the author

Kevin Mercadante

Kevin has 20+ years of experience covering insurance, mortgages, and banking. He holds a Bachelor’s Degree in Finance from Montclair State University and personal finance experience working in CPA firms and mortgage companies.