Map a fixed path for a card balance
Credit card balances can persist when repayments barely exceed interest and account charges. This calculator models a fixed monthly repayment against the entered purchase rate and optional monthly account fee, with no new transactions added.
Card terms can be more complicated than this snapshot: cash advances, promotional rates, statement timing, minimum-payment rules and late charges can all change the balance. It is an educational estimate, not a repayment arrangement or advice about a particular card. Compare the result with your current statement, which records the applicable rate, payment due and any charges already applied.
How to read the results
Estimated repayment time is the number of monthly payments needed under the fixed-payment model. Total interest is accumulated purchase-rate interest, Total account fees adds the monthly fee charged while a balance remains, and Final payment is the exact smaller last payment.
Payment too low means the chosen payment does not exceed the first month’s interest plus the entered monthly fee. The balance would not be cleared in this model. The balance chart tracks the projected card balance only and assumes no further spending.
Worked example
At the default $8,000 card balance, 20.99% purchase rate, $300 fixed monthly repayment and $0 monthly account fee, the estimated repayment time is 37 months. Total interest is $2,869 and total account fees are $0.
The final payment is $68.55. This assumes purchases stop immediately and every $300 payment is made on time; adding even small new purchases would change the result.
The total does not include any cash-advance interest or charges already shown separately on a statement.
Assumptions and limitations
- Interest is charged monthly at the entered purchase rate.
- No purchases, cash advances, balance transfers or refunds occur after the starting balance.
- The same fixed payment is made at the end of every month.
- Any entered account fee is charged each month while the balance remains.
- Promotional periods, minimum-payment rules, late fees and interest-free days are excluded.
Frequently asked questions
Why is the final payment smaller?
Once the remaining balance plus that month’s interest and fee is below the fixed payment, only the amount due is paid.
Can I include a yearly card fee?
This tool accepts a monthly account fee only; an annual fee is not automatically apportioned.
What if I keep using the card?
The estimate will understate both time and cost because it assumes no new transactions.
This calculator and supporting information provide general estimates only. They do not take account of every product rule, tax consequence or personal circumstance and are not financial, tax, credit or legal advice.