NEW! Our Hero’s Journey tool can help you with your next step towards financial freedom - click here to try now.
Advertiser Disclosure

Credit Card Repayment Calculator

Updated: 25th July 2021.

A credit card repayment calculator is a helpful tool, whether you’re applying for a new credit card or switching over to a balance transfer credit card.

Your current credit card
Enter the amount you typically pay off each month
- or -

Assumptions we are making

  • This calculator does not take into account additional spending that may be made on the credit card. 
  • Any fees, charges or penalties that may apply have not been accounted for here, including in the event of late payments, missed payments, or under-payments.

Paying off your credit card

Paying off your credit card, budgeting for a new one, or switching to a balance transfer credit card is a lot simpler when you know which tools are at your disposal. A particularly helpful one is a credit card repayment calculator as it provides information such as the minimum payment you can expect and how the annual percentage rate (APR) affects your installments. If you’re looking to transfer your balance to another card such as 0% interest credit cards, you will be able to calculate your savings on credit card interest through the balance transfer calculator.

A credit card payoff calculator also comes in handy when you’re thinking about how to get out of debt, as it will determine how much cash is needed to pay off the balance in full. A monthly repayment calculator will also show you the difference it would make to increase your monthly payments. Once you know how to repay your credit card with the help of the credit card payment calculator, it’s easier to control your budget.

A credit card calculator also comes in handy when you’re figuring out how to improve your credit score, as you’ll know the minimum repayment amount upfront. It will help you make changes to your budget in order to increase your monthly repayments while lowering your capital balance outstanding, which are both important measures when determining credit scores.


The Motley Fool receives compensation from some advertisers who provide products and services that may be covered by our editorial team. It’s one way we make money. But know that our editorial integrity and transparency matters most and our ratings aren’t influenced by compensation. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard, and Tesco.