Credit Card Payment Calculator
Result
Credit Card Payment Calculator — free online calculator.
Formula
- Calculate the fixed monthly payment needed to pay a credit-card balance over a chosen number of months at a stated APR.
- Use monetary amounts, rates and time periods exactly as labeled; the result reflects the assumptions entered on this page.
- Changing any input above recalculates the result with the same calculation engine used by this page.
Example: Credit Card Payment
The calculator treats the balance as an amortizing balance with a constant monthly interest rate derived from APR and a fixed payoff period.
Sample result: Calculating…
Frequently asked questions
What does the Credit Card Payment calculate?
For a $5,000 balance at 20% APR over 24 months, the formula estimates the fixed monthly payment required under the model.
Which values should I enter?
Enter the values requested by the calculator using the labels and units shown on the page.
What formula does this calculator use?
The calculator uses the following relationship: Payment = B × i / (1 − (1+i)^−n), where i = APR / 1200.
Why might my result differ from another source?
Results can differ when another source uses different units, rounding rules, conventions or assumptions. Compare the inputs and definitions before comparing results.
Does the result update automatically?
Yes. Changing an input updates the result using the same calculation engine shown on this page.