Credit card calculator

See how long a credit card balance could take to clear and how much interest you may save by paying more than the minimum. It is useful when you want a realistic payoff plan instead of a rough guess.

Best for

Declining minimum repayments based on balance percentage or dollar floor
A higher-repayment comparison aligned to the MoneySmart payoff model
Reusable payoff-time and interest-saved calculations for debt guidance

Card details

Start with your current balance and annual interest rate, then tune the issuer-style minimum repayment settings.

Card balance

Interest rate (% p.a.)

Advanced settings

These match the issuer-style minimum repayment settings used in the original calculator.

Minimum repayment of outstanding balance

Minimum repayment dollar amount

Higher repayments

Leave the amount empty to use the MoneySmart-style suggested payment that targets a two-year payoff.

Higher repayment per month You can type above the slider range if you want to model a more aggressive payoff.

Compare with personal loan

Higher repayment defaulted to the suggested two-year payoff amount of $246.

Results

Compare the long-term cost of minimum repayments against a higher fixed monthly repayment.

Minimum repayment first month $100

Higher repayment each month $246

Interest saved with higher repayments $11,960

Months saved 391 months

Adjust the higher repayment

Convenience range: $100 to $500

Minimum repayments

Repayments decrease as the balance comes down.

34 years 7 months

Total paid: $17,862
Total interest: $12,862

Higher repayments

Repayments stay fixed at the higher amount shown.

2 years

Total paid: $5,902
Total interest: $902

Paying $246 each month instead of making only minimum repayments reduces the total amount paid by $11,960.

The suggested higher repayment from the original MoneySmart logic is $246 per month, which targets a two-year payoff unless the first minimum repayment is already higher.

How these estimates work

Credit-card fees are not included in this calculator.
The minimum repayment is calculated as the greater of the outstanding-balance percentage or the dollar minimum.
The first minimum repayment is shown rounded up, matching the original calculator display.
Higher repayments are modeled as a fixed monthly amount.