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Credit Card Balance and Settlement

Explore how long it would take to pay off a balance with a reference annual rate and a fixed monthly payment. You can add extras to compare the effect on interest and time.

Educational use. Figures are estimates, not professional advice or offers. Check the actual terms.

Read the full use notice

These tools are for educational purposes. Their results are estimates that depend on the inputs and the assumptions stated in each calculator.

They do not constitute financial, tax or legal advice, personalized recommendations, offers or contractual terms. Check actual costs and contracts and consult a qualified financial professional before deciding.

To the extent permitted by applicable law, we are not responsible for losses or damage arising from decisions made solely on the basis of these estimates. This notice does not exclude or limit rights or liabilities that cannot legally be excluded or limited.

Your data

Payment plan

Format

Currency

The maximum amounts are technical limits of this tool in USD; they are not issuer caps.

Initial balance (USD)

Greater than 0 and up to 1,000,000,000.00 USD.

Reference annual rate (% annual)

From 0 to 100%. You can write .99.

Ordinary monthly payment (USD per month)

Greater than 0 and up to 1,000,000,000.00 USD. It is a hypothetical payment, not the contractual minimum.

Additional payments (optional)

Monthly extra (USD per month, optional)

From month 1, after the ordinary payment. Maximum 1,000,000,000.00 USD.

One-time extra (USD, optional)

Applies only in the indicated month, after the ordinary payment. Maximum 1,000,000,000.00 USD.

Month of the single extra payment

Whole month from 1 to 600 if you indicate a single extra payment.

First, the monthly interest is calculated on the opening balance; then the ordinary payment, single extra, and monthly extra are applied. The first month already accrues interest.

Summary

Your estimate will appear here

Enter balance, reference rate, and ordinary payment. Extras are optional.

A reproducible example in USD

Fixed editorial example in USD; the currency selector does not convert these figures.

With 1,000.00 USD of balance, reference annual rate of 12 % and ordinary payment of 100.00 USD per month, the model settles in 11 months. Sum 58.98 USD of interest and 1,058.98 USD of payments. In month 1, the following are added 10.00 USD of interest and the balance closes at 910.00 USD. A monthly extra of 20.00 USD from the first month would reduce the term to 9 months and the interest to 49.47 USD.

How it is calculated

Each month, interest = opening balance × annual rate ÷ 12. It is rounded to the minor currency unit of the chosen currency before any payment, with halves rounded up.
The ordinary payment is applied first, then the one-time extra if it corresponds to that month, and finally the monthly extra. None exceeds the remaining debt. A month 1 extra occurs after the first interest.
The table shows opening, interest, each applied payment, and closing. If settled, total payments equal the initial balance plus interest; otherwise, the difference is the outstanding balance.

Assumptions and limits

A maximum of 600 months are simulated. A positive initial balance of up to 1,000,000,000 main units of the chosen currency is accepted; each payment type can reach 1,000,000,000 main units; the reference annual rate ranges from 0 to 100% with up to two decimals. The balance with interest and the accumulated interest cannot exceed 10,000,000,000 main units each. If a technical limit is reached, the simulation stops with a message.

The entered payment is a hypothetical plan, not the minimum payment required by the issuer. A result with a remaining balance at 600 months does not determine if it would be settled later; nor does it promise a cancellation date.

Many issuers calculate daily interest and may apply different rates to different parts of the balance, as explained by the Consumer Financial Protection Bureau. This monthly model does not reproduce the statement, daily interest, actual cycle length, grace period, or a full contractual APR. It excludes fees, penalties, promotions, rate changes, new purchases, multiple cards, and contractual minimum payment rules.