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Credit Card Balance Calculator

<-- Credit Card Balance
% <-- APR



How does the Credit Card Balance Calculator work?

This calculator shows 3 methods for paying off a credit card balance on a monthly installment basis given an outstanding balance and an Annual Percentage Rate (APR):

1) Minimum Payment Amount
2) Minimum Percentage Amount
3) Payoff in Years
This calculator has 5 inputs.

What 4 concepts are covered in the Credit Card Balance Calculator?

annual percentage rate
the yearly interest generated by a sum that is charged to borrowers or paid to investors.
credit card balance
installment
one of the amounts, usually equal, into which a debt is divided for payment at stated intervals over a fixed period
interest
payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate