Credit Card Payment Calculator
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To use this document, go to the File menu and "Make a copy" for your own use (do not request access)
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Or click here for your own copy.
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For more information, visit the page below:
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Enter your loan details in the green boxes. The result appears in the grey box.
https://www.thebalance.com/calculate-credit-card-payments-and-costs-315644
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Card BalanceAnnual RateMinimum %Minimum $
Calculated Minimum
*IMPORTANT: These numbers and formulas might not be accurate or appropriate for your situation
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$7,000.0012.00%3.00%25$210.00
You MUST verify all details, calculations, and projections with your financial institution before making any decisions.
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Consult your tax advisor, financial advisor, and legal counsel before taking any action
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Ask your card issuer how the minimum payment is calculated, and update the numbers above, if necessary.
Instructions:
Double click the video below, or visit
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This assumes a single purchase with simplified monthly interest calculations. Daily interest charges are HIGHER.
(3 Minutes)
https://youtu.be/n-TyJq80FC0
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MonthPaymentInterestPrincipalBalance
Total Interest
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1$210.00$70.00$140.00$6,860.00$70.00
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2$205.80$68.60$137.20$6,722.80$138.60
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3$201.68$67.23$134.46$6,588.34$205.83
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4$197.65$65.88$131.77$6,456.58$271.71
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5$193.70$64.57$129.13$6,327.45$336.28
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6$189.82$63.27$126.55$6,200.90$399.55
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7$186.03$62.01$124.02$6,076.88$461.56
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8$182.31$60.77$121.54$5,955.34$522.33
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9$178.66$59.55$119.11$5,836.23$581.88
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10$175.09$58.36$116.72$5,719.51$640.25
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11$171.59$57.20$114.39$5,605.12$697.44
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12$168.15$56.05$112.10$5,493.02$753.49
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13$164.79$54.93$109.86$5,383.16$808.42
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14$161.49$53.83$107.66$5,275.49$862.25
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15$158.26$52.75$105.51$5,169.98$915.01
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16$155.10$51.70$103.40$5,066.58$966.71
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17$152.00$50.67$101.33$4,965.25$1,017.37
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18$148.96$49.65$99.31$4,865.95$1,067.03
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19$145.98$48.66$97.32$4,768.63$1,115.69
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20$143.06$47.69$95.37$4,673.26$1,163.37
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21$140.20$46.73$93.47$4,579.79$1,210.10
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22$137.39$45.80$91.60$4,488.19$1,255.90
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23$134.65$44.88$89.76$4,398.43$1,300.78
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24$131.95$43.98$87.97$4,310.46$1,344.77
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25$129.31$43.10$86.21$4,224.25$1,387.87
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26$126.73$42.24$84.49$4,139.77$1,430.12
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27$124.19$41.40$82.80$4,056.97$1,471.51
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28$121.71$40.57$81.14$3,975.83$1,512.08
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29$119.27$39.76$79.52$3,896.32$1,551.84
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30$116.89$38.96$77.93$3,818.39$1,590.80
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31$114.55$38.18$76.37$3,742.02$1,628.99
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32$112.26$37.42$74.84$3,667.18$1,666.41
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33$110.02$36.67$73.34$3,593.84$1,703.08
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34$107.82$35.94$71.88$3,521.96$1,739.02
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35$105.66$35.22$70.44$3,451.52$1,774.24
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36$103.55$34.52$69.03$3,382.49$1,808.75
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37$101.47$33.82$67.65$3,314.84$1,842.58
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38$99.45$33.15$66.30$3,248.55$1,875.73
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39$97.46$32.49$64.97$3,183.57$1,908.21
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40$95.51$31.84$63.67$3,119.90$1,940.05
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41$93.60$31.20$62.40$3,057.50$1,971.25
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42$91.73$30.58$61.15$2,996.35$2,001.82
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43$89.89$29.96$59.93$2,936.43$2,031.79
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44$88.09$29.36$58.73$2,877.70$2,061.15
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45$86.33$28.78$57.55$2,820.15$2,089.93
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46$84.60$28.20$56.40$2,763.74$2,118.13
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47$82.91$27.64$55.27$2,708.47$2,145.77
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48$81.25$27.08$54.17$2,654.30$2,172.85
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49$79.63$26.54$53.09$2,601.21$2,199.39
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50$78.04$26.01$52.02$2,549.19$2,225.41
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51$76.48$25.49$50.98$2,498.20$2,250.90
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52$74.95$24.98$49.96$2,448.24$2,275.88
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53$73.45$24.48$48.96$2,399.28$2,300.36
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54$71.98$23.99$47.99$2,351.29$2,324.36
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55$70.54$23.51$47.03$2,304.26$2,347.87
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56$69.13$23.04$46.09$2,258.18$2,370.91
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57$67.75$22.58$45.16$2,213.01$2,393.49
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58$66.39$22.13$44.26$2,168.75$2,415.62
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59$65.06$21.69$43.38$2,125.38$2,437.31
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60$63.76$21.25$42.51$2,082.87$2,458.56
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61$62.49$20.83$41.66$2,041.21$2,479.39
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62$61.24$20.41$40.82$2,000.39$2,499.80
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63$60.01$20.00$40.01$1,960.38$2,519.81
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64$58.81$19.60$39.21$1,921.17$2,539.41
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65$57.64$19.21$38.42$1,882.75$2,558.62
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66$56.48$18.83$37.66$1,845.10$2,577.45
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67$55.35$18.45$36.90$1,808.19$2,595.90
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68$54.25$18.08$36.16$1,772.03$2,613.98
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69$53.16$17.72$35.44$1,736.59$2,631.71
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70$52.10$17.37$34.73$1,701.86$2,649.07
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71$51.06$17.02$34.04$1,667.82$2,666.09
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72$50.03$16.68$33.36$1,634.46$2,682.77
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73$49.03$16.34$32.69$1,601.78$2,699.11
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74$48.05$16.02$32.04$1,569.74$2,715.13
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75$47.09$15.70$31.39$1,538.34$2,730.83
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76$46.15$15.38$30.77$1,507.58$2,746.21
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77$45.23$15.08$30.15$1,477.43$2,761.29
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78$44.32$14.77$29.55$1,447.88$2,776.06
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79$43.44$14.48$28.96$1,418.92$2,790.54
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80$42.57$14.19$28.38$1,390.54$2,804.73
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81$41.72$13.91$27.81$1,362.73$2,818.63
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82$40.88$13.63$27.25$1,335.48$2,832.26
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83$40.06$13.35$26.71$1,308.77$2,845.62
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84$39.26$13.09$26.18$1,282.59$2,858.70
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85$38.48$12.83$25.65$1,256.94$2,871.53
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86$37.71$12.57$25.14$1,231.80$2,884.10
97
87$36.95$12.32$24.64$1,207.16$2,896.42
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88$36.21$12.07$24.14$1,183.02$2,908.49
99
89$35.49$11.83$23.66$1,159.36$2,920.32
100
90$34.78$11.59$23.19$1,136.17$2,931.91
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