---
title: "Credit Card Payoff Calculator 2026 — Fixed, Minimum & Target Date"
description: "Calculate how long to pay off your credit card and total interest. Three modes: fixed monthly payment, minimum-only true cost, or target payoff date. Compare US, UK, Canada, Australia APRs. Free."
url: "https://worldcalculators.org/calculators/credit-card/"
canonical: "https://worldcalculators.org/calculators/credit-card/"
---

# Credit Card Payoff Calculator

Calculate how long to pay off your credit card and total interest. Three modes: fixed monthly payment, minimum-only true cost, or target payoff date. Compare US, UK, Canada, Australia APRs. Free.

## Quick answer

To find the required monthly payment: PMT = (Balance × monthly rate) / (1 − (1 + monthly rate)^−n). A $5,000 balance at 22.99% APR paid off in 36 months requires ~$190/month and costs ~$840 in interest. Minimum-only payments at 2% take 30 years and cost $7,700+ in interest.

## Credit Card APR by Country (2026)

Credit card interest rates vary significantly by country, reflecting different central bank rates, regulatory frameworks, and competitive dynamics.

## How Credit Card Interest Is Calculated

Most credit cards in the US, UK, Canada, and Australia use the Average Daily Balance method:
Example: $3,000 balance at 22.99% APR over a 30-day cycle = (0.2299 / 365) × $3,000 × 30 = $56.70 in interest for that month.

## UK vs US: Key Differences

The US CARD Act (2009) introduced important consumer protections: minimum payments must cover at least 1% of principal + interest; issuers must give 45 days notice of rate increases; and statements must show how long minimum payments take. The UK's FCA similarly requires clear disclosure of total charges. The UK uniquely offers balance transfers up to 30 months — longer than anywhere else globally — due to intense competition between Barclaycard, MBNA, and Lloyds.

## Australia's Comparison Rate

Australia requires a Comparison Rate (not just APR) on all credit products — this rate includes annual fees and other charges, making it easier to compare total cost. A card advertised at 19.99% APR might have a Comparison Rate of 21.5% once annual fees are factored in. This is more informative than US/UK APR disclosures, which typically exclude fees.

Source: https://worldcalculators.org/calculators/credit-card/
Markdown mirror of the HTML page. Prefer this URL for RAG; the interactive calculator still lives on the HTML page.