Free Tool · Credit & Debt

Credit Card Repayment Calculator

Enter your balance, interest rate, and monthly payment to see exactly how long it will take to pay off your credit card — and how much interest you'll pay along the way.

Your credit card details

Current balance

Annual interest rate

Most Australian credit cards charge 17–22% p.a. Check your statement.

Monthly payment

Minimum payment (2% of balance)$70/mo

Must be more than the monthly interest charge to make progress.

Note: Assumes a fixed balance with no new purchases. Real credit card balances change with spending. For illustration purposes only.

Paid off in

1 yr 9 mo

making $200 monthly payments

Total interest

$672

Total paid

$4,172

Monthly interest charge

$58.30

Interest rate

19.99%

Balance over time

You'll pay $672 in interest — that's 19% on top of your original $3,500 balance. Increasing your monthly payment is the fastest way to reduce this.

What if you paid more each month?

MonthlyPaid off inTotal interestInterest saved

$200 ✦1 yr 9 mo$672—

$2501 yr 5 mo$519save $154

$3001 yr 2 mo$424save $248

$40010 months$315save $357

Go deeper with Credit & Debt lessons

Now you know the cost —
learn how to get out faster

These lessons explain how credit cards actually work, what affects your credit score, and the smartest strategies for paying down debt.

💳

Lesson 4 · Credit & Debt

HECS/HELP Debt Explained