Revolving Credit Card Payment Calculator
Enter your outstanding balance, annual percentage rate, and fixed monthly payment to instantly see how many months it takes to pay off revolving credit, the total finance charges (interest), and the total you will pay. Supports both fixed-total and fixed-principal methods so you can visualize why revolving balances take so long to clear.
Input
Repayment method
$
%
$
Finance charge rounding (fractional unit)
Round down
Result
Months to pay off
11 months
Total finance charge
$7,497.00
Total repayment
$107,497.00
First payment
$10,000.00
Last payment
$7,497.00
How it works
- Revolving credit lets you pay off a balance with a roughly fixed amount each month. Because a finance charge is applied to the remaining balance, the longer it takes to pay off, the more total interest you pay.
- Each month's finance charge = remaining balance × annual rate ÷ 12, with the fractional unit handled by your chosen rounding (round down, round half up, or round up). Real card issuers may use different billing cycles, day-count, and rounding rules.
- The fixed-total method keeps the monthly payment (principal + finance charge) constant; the portion left after the finance charge goes to principal. While the balance is high, the principal barely decreases.
- The fixed-principal method keeps the principal portion constant and adds the finance charge on top, so the monthly payment gradually decreases over time.
- If the monthly payment is not larger than the first month's finance charge, the balance never decreases and cannot be paid off; the tool shows an error in that case.
- This is a simplified simulation that assumes a constant rate to payoff and no new charges, lump-sum or early repayment, late fees, or bonus payments. Displayed amounts are rounded estimates—check your card statement for the official figures.
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Revolving Credit Card Payment Calculator