Calculate how much interest you're paying on your credit card balance
Updated October 2026Built and checked by MaverickHow it's calculatedReport an error
Time to pay off
34 mo
2.8 years
Total interest
$1,661
$6,661 total cost
Min-only path
Never
$26,576 interest
Saved vs min
$24,916
566 months faster
Compare minimum-only to your current amount and small increases, even $50 extra has a big impact.
Each payment chips away at the balance, but interest accrues daily, so the curve flattens early.
Interest on a credit card balance adds up while the balance is unpaid. Enter your balance, rate and monthly payment to see how long it takes to clear the card, the interest you'd pay along the way, and how that compares with paying only the minimum.
As of 7 November 2026, the lowest credit card purchase rate is 7.49%, from Unity Bank's Low Rate Visa Credit Card, while the typical best across 51 institutions is 12.49%.
$5,000 balance at 20% a year, paying $200 a month with no new purchases. The card's minimum is 2% of the balance or $20.
Paid off in 33 months with $1,522 in interest. Paying only the minimum (about $102 to start, falling as the balance falls) would take 547 months, over 45 years, and cost $19,345 in interest.