How it works
Each month: balance + new purchases → interest at rate ÷ 12 → minus (payment − card fee)
The calculator repeats this until the balance is cleared. Banks calculate card interest daily, so your statement will differ slightly, but the time to pay off and total interest are a reliable guide.
Worked examples
R25 000 at 21% paying R1 500 a month
With no new spending the card is cleared in about 20 months, with roughly R4 800 in interest.
Paying R1 500 a month
- Time to clear the balance
- 1 year 8 months
- Total interest
- R4 817.04
- Total paid (incl. fees)
- R29 817.04
Paying R2 500 instead
A higher payment clears the balance much faster and saves a large share of the interest.
Paying R1 500 a month
- Time to clear the balance
- 1 year 8 months
- Total interest
- R4 817.04
- Total paid (incl. fees)
- R29 817.04
Frequently asked questions
Why is my credit card balance hardly going down?
If you pay only a small amount, most of it goes to interest, and new purchases add to the balance. Paying more than the minimum and stopping new spending makes the biggest difference.
How does the interest-free period work?
Most cards give up to about 55 days interest-free on purchases — but only if you pay the full statement balance by the due date. Once you carry a balance, interest is charged.