Credit Card Payment Calculator
Find out the fixed monthly payment needed to pay off your credit card balance within a target timeframe.
How much should you pay each month?
If you want to pay off your credit card balance within a specific timeframe, this calculator works backward from your target payoff date to tell you the fixed monthly payment required, accounting for interest charged along the way.
The formula
Monthly Payment = Balance × r × (1+r)^n / ((1+r)^n − 1), where r is the monthly interest rate (APR divided by 12) and n is your target number of months. This is the same formula used for loan amortization, applied in reverse to find the payment for a fixed term.
This calculator is for general educational and planning purposes. It assumes no new charges are added and a fixed payment each month; actual card terms and minimum payment rules may differ.