Calculator
Choose a payment or a payoff target. Add optional fees, an intro rate, and extra payments.
Example data table
Sample schedule preview for demonstration.
| Month | Payment date | APR % | Interest | Fees | Payment | Ending balance |
|---|---|---|---|---|---|---|
| 1 | 2026-03-15 | 24.99 | 72.89 | 0.00 | 200.00 | 3,372.89 |
| 2 | 2026-04-15 | 24.99 | 70.31 | 0.00 | 200.00 | 3,243.20 |
| 3 | 2026-05-15 | 24.99 | 67.61 | 0.00 | 200.00 | 3,110.81 |
Formula used
- Monthly interest (monthly compounding): Interest = Balance × (APR ÷ 12).
- Monthly interest (daily approximation): Interest = Balance × ((1 + APR ÷ 365)days − 1).
- Updated balance: New Balance = Balance + Interest + Fees − Payment.
- Target mode payment: Uses a simulation plus binary search to find the smallest base payment that reaches zero within your chosen months.
How to use this calculator
- Enter your starting balance and ongoing APR.
- Pick a mode: fixed payment or payoff within target months.
- Add optional intro APR months, fees, and extra payments.
- Click Calculate to see payoff time, totals, and schedule.
- Use the download buttons to export CSV or PDF.
FAQs
1) Why does daily compounding change the payoff?
Daily methods accrue interest using the month’s day count, so shorter or longer months slightly change interest. It’s an estimate that can be closer to some issuer calculations.
2) What happens if my payment is too low?
If the payment doesn’t cover interest and fees, the balance may grow. The schedule will extend, and payoff might not be reached within the safety limit.
3) How does the intro APR period work?
The calculator applies the intro APR for the number of intro months you enter. After that, it switches to the ongoing APR for the remaining schedule.
4) Does this include new purchases?
No. It assumes you stop adding new charges. If you keep spending, real payoff time will be longer because the principal will not decline as modeled.
5) What is the minimum payment option?
It enforces a common rule: the higher of $25 or 2% of the post-interest balance. This is a simplified policy and can differ by issuer.
6) How are annual fees applied?
The annual fee is added once per year in the month you select. It increases the amount due for that month and can extend the payoff if payments stay the same.
7) What does target months mode calculate?
It finds the smallest base monthly payment that pays off the card within your selected months, while still applying your extra payments, fees, and rate changes.
8) Is the PDF export suitable for printing?
Yes for basic summaries and a short schedule preview. It’s a lightweight text report designed to work without extra libraries, so it won’t include complex styling.