Irish Calculators
Loans & mortgages

Credit Card Repayment and Payoff Calculator

Model repayment with either a fixed monthly payment or a chosen number of months. Enter known fees and assume no new spending; the tool does not infer an issuer's minimum-payment rule.

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Your numbers

€
Use the principal owed before the next interest period.
%
Monthly interest is the annual nominal rate divided by 12. This is not a fee-inclusive APR.
Your figures stay on this device.

How the calculation works

Plan credit-card repayment from a target payoff term or a fixed monthly payment. Each payment covers monthly fees and interest before reducing principal, with a smaller final payment when less remains due.

Each monthly payment first covers the entered fee and accrued interest; the remainder reduces principal. A final partial payment clears the debt.

  1. Establish the payment strategy

    Target-term mode calculates the debt payment and adds the monthly fee. Known-payment mode simulates repayment with the supplied total payment.

  2. Allocate each month

    Charge interest on opening principal, cover the fee and apply the remainder to debt. Insufficient payments are rejected instead of being assigned an invented payoff date.

  3. Review payoff and cost

    Continue until principal clears, limiting the final payment to the remaining amounts due. Compare payment count, total payments and interest rather than only the regular amount.

Worked example: Target term includes monthly fees

Sample inputs demonstrate the method. They are not a forecast or product offer.

The example clears €1,200 at zero interest in twelve months. Monthly principal repayment is €100; a €5 fee raises each payment to €105. Total payments are €1,260, consisting of principal and €60 fees, with no interest.

Loan balance (€)
1200
Annual nominal interest rate (%)
0
Solve for
Payment for a chosen term
Remaining term (months)
12
Monthly card fee until payoff
5

Expected result

Regular payment
€105.00
Total payments
€1,260.00
Total interest
€0.00
Worked example: Fixed payment leaves a partial final payment

Sample inputs demonstrate the method. They are not a forecast or product offer.

Loan balance (€)
1000
Annual nominal interest rate (%)
0
Solve for
Time at a chosen monthly payment
Fixed monthly payment
305
Monthly card fee until payoff
5

Expected result

Number of payments
4
Total payments
€1,020.00
Regular payment
€305.00

Understanding your result

No new purchases, rate changes or altered fees are assumed. Continuing card use or a promotional-rate expiry would change the repayment path.

This is not a universal minimum-payment formula. Contractual minimums may change with balance and need not achieve the fixed payoff term you want.

Questions you might have

Why can a payoff calculation fail?

If the payment cannot cover fees and interest, the balance does not fall. The calculator rejects that scenario instead of inventing a payoff date.

Choosing the right inputs

Solve for
Choose payment-for-term when months are the target, or time-at-payment when the monthly amount available is already known.
Annual nominal interest rate
Use an annual nominal rate. Interest is calculated monthly at one twelfth of it, rather than reconstructing daily card statements.
Fixed monthly payment
In fixed-payment mode, enter total monthly cash including the fee. It must cover interest and fees while leaving an amount to reduce principal.
Monthly card fee until payoff
Enter the recurring fee charged until payoff. This is included every payment month, not only in the first month's total.

Common mistakes to avoid

  • Do not enter a fee-exclusive payment when the field asks for total monthly cash paid.
  • Do not rely on the payoff result while continuing to make purchases omitted from the scenario.

Assumptions to check

  • This is not a universal minimum-payment formula and does not model new spending.

Sources and method

Read our calculation and testing approach.