Finance
Credit card payoff
Estimate repayment time and interest with a fixed monthly payment and no new purchases.
Calculators / Finance / Credit card interest
Credit card interest calculator
Estimate one month of credit-card interest and the balance after a payment.
On this page
Approximate monthly interest55
Balance after interest and payment2,855
Calculator controls
How to calculate
Estimate one month of credit-card interest and the balance after a payment.
Approximate monthly interest = balance*apr/1200; Balance after interest and payment = balance+balance*apr/1200-payment
Worked example
Example inputs
Statement balance: 3000 · Annual percentage rate (%): 22 · Payment: 200
Example resultApproximate monthly interest: 55 · Balance after interest and payment: 2855
Assumptions and limits
Actual cards commonly use average daily balances, transaction dates, grace periods and fees. Check the issuer statement method.
Results are rounded for display; calculations use unrounded values. Read our calculation methodology.
Understanding the result
Estimate one month of credit-card interest and the balance after a payment. The displayed figures use the inputs and formula shown on this page.
When this tool is useful
Use the credit card interest to compare a scenario, check an estimate, or verify a manual calculation.
Understanding your inputs
| Input | What to enter |
|---|---|
| Statement balance | Enter a number of at least 0.000001 and no more than 1000000000000. |
| Annual percentage rate (%) | Enter a number of at least 0 and no more than 100. |
| Payment | Enter a number of at least 0 and no more than 1000000000000. |
Frequently asked questions
What should I check before using the credit card interest result?
Actual cards commonly use average daily balances, transaction dates, grace periods and fees. Check the issuer statement method.
Is this credit card interest result exact?
It is exact for the stated mathematical model and entered values. Real-world results can differ when rates, timing, fees, definitions or measurement conditions differ.