What is the Credit Card Payment Calculator?

The Credit Card Payment Calculator is a practical tool designed to help users manage their credit card debt more effectively. By entering your outstanding balance, annual interest rate, and planned monthly payment, this calculator estimates how long it will take to fully pay off your credit card. It helps you understand the impact of interest charges, plan your monthly payments wisely, and avoid prolonged debt accumulation.

How to Use:

1. Outstanding Balance [Currency]: Input your current credit card balance.
2. Annual Interest Rate (%): Enter the yearly interest rate applied to your balance.
3. Monthly Payment [Currency]: Enter the amount you intend to pay each month.
4. Click “Calculate”: The calculator determines the total months and approximate years needed to repay your credit card fully.
5. Review Result: Use the result to adjust your payments and create a strategy to minimize interest and clear your debt faster.