Finance & accounting
Credit Card Payoff Calculator
Minimum due vs a fixed payment: time and interest to clear a card.
Preparing tool
How to use Credit Card Payoff Calculator
- Enter the outstanding balance, the card's monthly interest rate and the minimum due percentage.
- Enter a fixed monthly payment to compare and choose whether 18% GST applies to interest (India).
- See how long the minimum due takes and the interest it costs, against the fixed payment and the interest you save.
What are the limits of Credit Card Payoff Calculator?
Assumes no new spending, on-time payments and interest charged monthly on the unpaid balance. Real statements may differ slightly (daily interest, late fees, interest on new purchases while a balance is unpaid). Not financial advice.