Credit Card Repayment Calculator Australia

Estimate how long a credit card balance may take to repay and how much interest a fixed monthly payment may cost.

$
%
$

Estimated payoff

Time to repay
—
Total interest
$0.00
Total paid
$0.00

Assumes no new purchases, fees or rate changes.

How credit card interest works

Credit card interest is usually calculated from the outstanding balance. This estimate applies one-twelfth of the annual rate each month, adds interest, then subtracts the fixed payment.

How to use it

  1. Enter the current card balance.
  2. Add the annual purchase interest rate.
  3. Enter a fixed monthly payment above the first month’s interest.
  4. Review the payoff time and total interest.

Worked example

A $5,000 balance at 19.99% with $250 paid each month takes about two years to clear and costs more than $1,000 in interest. Paying more each month shortens the payoff time.

Benefits

  • Turns a monthly payment into an estimated debt-free date.
  • Shows the cost of carrying a balance.
  • Helps compare minimum-style payments with a faster plan.

Frequently asked questions

Why must the payment exceed monthly interest?

If the payment does not cover interest, the balance will not fall and can keep growing.

Does this include new purchases?

No. New spending increases the balance and can extend the payoff time.

Are interest-free days included?

No. Interest-free periods and statement timing vary by card and are not modelled.

Can the rate change?

Yes. This estimate assumes the entered rate stays unchanged.

Conclusion

A fixed payment above the minimum can reduce both time and interest. Confirm the rate, fees and payment rules on your statement.