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Credit Card Calculator excel with amortization schedule to calculate your monthly credit card payment. The credit card payment calculator shows you how much interest and principal you are paying per month.
Monthly Payment |
$300.00 |
|||||
Total Interest |
$3,313.64 | |||||
Total Principal |
$10,000.00 | |||||
Total Payment |
$13,313.64 | |||||
Payoff Date |
Jul, 2028 | |||||
Payoff Months |
45 Months | |||||
Credit Card Amortization Schedule |
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Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
---|---|---|---|---|---|---|
Nov, 2024 | 1 | $133.33 | $166.67 | $300.00 | $9,833.33 | |
Dec, 2024 | 2 | $131.11 | $168.89 | $300.00 | $9,664.44 | |
Jan, 2025 | 3 | $128.86 | $171.14 | $300.00 | $9,493.30 | |
Feb, 2025 | 4 | $126.58 | $173.42 | $300.00 | $9,319.88 | |
Mar, 2025 | 5 | $124.27 | $175.73 | $300.00 | $9,144.15 | |
Apr, 2025 | 6 | $121.92 | $178.08 | $300.00 | $8,966.07 | |
May, 2025 | 7 | $119.55 | $180.45 | $300.00 | $8,785.62 | |
Jun, 2025 | 8 | $117.14 | $182.86 | $300.00 | $8,602.76 | |
Jul, 2025 | 9 | $114.70 | $185.30 | $300.00 | $8,417.46 | |
Aug, 2025 | 10 | $112.23 | $187.77 | $300.00 | $8,229.69 | |
Sep, 2025 | 11 | $109.73 | $190.27 | $300.00 | $8,039.42 | |
Oct, 2025 | 12 | $107.19 | $192.81 | $300.00 | $7,846.62 | |
Nov, 2025 | 13 | $104.62 | $195.38 | $300.00 | $7,651.24 | |
Dec, 2025 | 14 | $102.02 | $197.98 | $300.00 | $7,453.25 | |
Jan, 2026 | 15 | $99.38 | $200.62 | $300.00 | $7,252.63 | |
Feb, 2026 | 16 | $96.70 | $203.30 | $300.00 | $7,049.33 | |
Mar, 2026 | 17 | $93.99 | $206.01 | $300.00 | $6,843.32 | |
Apr, 2026 | 18 | $91.24 | $208.76 | $300.00 | $6,634.57 | |
May, 2026 | 19 | $88.46 | $211.54 | $300.00 | $6,423.03 | |
Jun, 2026 | 20 | $85.64 | $214.36 | $300.00 | $6,208.67 | |
Jul, 2026 | 21 | $82.78 | $217.22 | $300.00 | $5,991.45 | |
Aug, 2026 | 22 | $79.89 | $220.11 | $300.00 | $5,771.34 | |
Sep, 2026 | 23 | $76.95 | $223.05 | $300.00 | $5,548.29 | |
Oct, 2026 | 24 | $73.98 | $226.02 | $300.00 | $5,322.26 | |
Nov, 2026 | 25 | $70.96 | $229.04 | $300.00 | $5,093.23 | |
Dec, 2026 | 26 | $67.91 | $232.09 | $300.00 | $4,861.14 | |
Jan, 2027 | 27 | $64.82 | $235.18 | $300.00 | $4,625.95 | |
Feb, 2027 | 28 | $61.68 | $238.32 | $300.00 | $4,387.63 | |
Mar, 2027 | 29 | $58.50 | $241.50 | $300.00 | $4,146.13 | |
Apr, 2027 | 30 | $55.28 | $244.72 | $300.00 | $3,901.42 | |
May, 2027 | 31 | $52.02 | $247.98 | $300.00 | $3,653.43 | |
Jun, 2027 | 32 | $48.71 | $251.29 | $300.00 | $3,402.15 | |
Jul, 2027 | 33 | $45.36 | $254.64 | $300.00 | $3,147.51 | |
Aug, 2027 | 34 | $41.97 | $258.03 | $300.00 | $2,889.48 | |
Sep, 2027 | 35 | $38.53 | $261.47 | $300.00 | $2,628.00 | |
Oct, 2027 | 36 | $35.04 | $264.96 | $300.00 | $2,363.04 | |
Nov, 2027 | 37 | $31.51 | $268.49 | $300.00 | $2,094.55 | |
Dec, 2027 | 38 | $27.93 | $272.07 | $300.00 | $1,822.48 | |
Jan, 2028 | 39 | $24.30 | $275.70 | $300.00 | $1,546.78 | |
Feb, 2028 | 40 | $20.62 | $279.38 | $300.00 | $1,267.40 | |
Mar, 2028 | 41 | $16.90 | $283.10 | $300.00 | $984.30 | |
Apr, 2028 | 42 | $13.12 | $286.88 | $300.00 | $697.42 | |
May, 2028 | 43 | $9.30 | $290.70 | $300.00 | $406.72 | |
Jun, 2028 | 44 | $5.42 | $294.58 | $300.00 | $112.15 | |
Jul, 2028 | 45 | $1.50 | $112.15 | $113.64 | $0.00 |
Credit card interest is high, the sooner that you pay off your credit card, the more interest money you can save. Use the credit card interest calculator to get a credit card amortization schedule and see exactly how much interest you will be paying and how long it will take you to pay off your credit card debt. You can also use the credit card payoff calculator with amortization if you want to pay off your debt earlier by making an extra payment each month or calculating by desired payoff year.
Credit card companies generally charge a much higher interest rate compared to other types of loans such as your home mortgage, car loan, or student loan. The APR on a credit card could be as high as 30%, whereas an APR on a mortgage could be as low as 3%. The reason credit companies charge high-interest rates is to protect themselves in case the cardholder defaults or racks up too much debt that they can't afford to repay. While it is hard to get a home mortgage where you have to provide proof of income and many other financial statements, it is much easier for one to get a credit card. Therefore, it is much more likely for one to stop making payments on a credit card than on a mortgage. To make up for the bank's risks in issuing credit cards, they charge outrageous fees. Some people have as many as 8-10 credit cards which are excessive. A little balance on each credit card adds up, and debt piles up quickly. As a general rule, 3-4 credits should be enough for most people.
If you have a lot of credit card debt, it is recommended that you pay them off fast. Anyone with a high balance on their credit card is basically throwing money away. Here are a few tips on how to pay off credit card debt fast.
Follow the steps above, and say goodbye to credit card debt. Use the extra money to buy an asset that appreciates such as a house.
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