Website Disclaimer

This Credit Card Repayment Calculator provides an estimate based only on the information you enter and not on any data maintained by American Debt Counseling Inc. These results are an estimate. The actual time and cost of repaying your credit card balance may differ from this estimate. This calculator is provided "as is" and on an "as available" basis without representations or warranties, expressed or implied, including, without limitations, warranties of suitability, merchantability, and fitness for a particular purpose. The Board is not liable for damages of any kind arising from the use of (or inability to use) this calculator.
By using this calculator, you accept these terms.


My total balance
This amount may appear on the first page of your bill as “Total Balance” or “New Balance.”

My highest APR
You may see several APRs on your bill. For example, you may have an APR for purchases and a different APR for cash advances. Find the highest current APR on which you have a balance. If you have made a cash advance, the highest APR may be on this amount. See: Why does this calculator use the highest APR on which I have a balance?

My initial minimum payment
For this estimate, we assume that your minimum payment is 2 % of your current balance each month or $20, whichever is greater. Your credit card issuer may calculate your minimum payment differently. We do not know whether the minimum payment on your bill represents only a percentage of your total balance or includes amounts that vary from month to month (such as fees).
Frequently Asked Questions

How was my estimate calculated? Because we do not have access to your credit card records, we made the following assumptions for our calculations:


Minimum payment:
For this estimate, we assume that your minimum payment is 2 % of your current balance each month or $20, whichever is greater. Your credit card issuer may calculate your minimum payment differently. We do not know whether the minimum payment on your bill represents only a percentage of your total balance or includes amounts that vary from month to month (such as fees). We also assume that you make only the minimum payment each month, that the payment is on time, and that it is credited on the last day of the month. We assume that the final payment pays the balance in full. New activity: We assume that you do not use your credit card for any additional transactions and that you are not assessed any fees while you are paying the balance down. APR: For this estimate, we assume that the highest APR on which you have a balance applies to your entire balance. Using the highest APR on which you have a balance means that the actual time it will take you to pay off your balance may be shorter than the calculated estimate but should not be longer. This assumption is necessary because we do not know how your payments will be applied when you have balances with different APRs. We also assume that the APR for your account will not change. Account status: We assume that your account is not past due and that your balance does not exceed the credit limit for your account. Interest calculation: We assume that your interest is calculated by applying a monthly rate to the average daily balance. The monthly rate is calculated by dividing the APR by twelve. We also assume that you are charged interest each day in the month. Why does this calculator use the highest APR on which I have a balance? If you have balances with different APRS, we do not know how your payments will be applied among those balances. Using the highest APR on which you have a balance means that the actual time it will take you to pay off your balance may be shorter than the calculated estimate but should not be longer.

Why did you assume a minimum payment amount instead of using the amount on my bill?
For this estimate, we assume that your minimum payment is 2 % of your current balance each month or $20, whichever is greater. Your credit card issuer may calculate your minimum payment differently. We do not know whether the minimum payment on your bill represents only a percentage of your total balance or includes amounts that vary from month to month (such as fees).
Why is this amount less than my estimated initial minimum payment?
In the first estimate, we assume that your initial minimum payment is 2 % of your current balance each month or $20, whichever is greater. That payment will decrease each month as your balance goes down until the payment reaches $20, then it will stay at $20. The payment in this estimate will stay the same until the balance is paid in full. Therefore, at the beginning, it may be less than the estimated initial minimum payment.

Why is this timeframe different from the initial repayment estimate?

My estimated payoff time is longer than my first estimate.
This estimate is longer because you entered a payment amount that is less than the estimated initial minimum payment. See: Why did you assume a minimum payment amount instead of using the amount on my bill?

I entered the estimated initial minimum payment and got a shorter payoff period. In the first estimate, we assume that your initial minimum payment is 2 % of your current balance each month or $20, whichever is greater. That payment will decrease each month as your balance goes down until the payment reaches $20, then it will stay at $20. The payment in this estimate will stay the same until the balance is paid in full. Therefore, even if you start off paying the minimum, you will be paying more than the minimum over time as the balance decreases.