Credit Card Installment Calculator
Thinking of putting a purchase on your credit card and paying it off in monthly installments? See the real cost: the monthly payment and exactly how much extra you pay on top of the price.
Purchase Details
Handling, activation or origination fee charged upfront.
What financing really costs
Monthly payment
for 12 months
Extra paid vs. paying cash
+13.5% of the price
You'll pay a noticeable premium to spread this out. Worth it only if you can't pay cash comfortably.
Tip: paying the same amount in fewer months, or making a larger down payment, cuts the interest fast.
Estimates for education only, assuming a fixed monthly payment and monthly compounding. Your card issuer's exact terms may differ.
Related guides
Methodology
How this calculator works
Built by Andrés Soler · Updated
Formula
- Financed amount = purchase price + one-time fee
- Monthly installment = A × i × (1 + i)^n ÷ ((1 + i)^n − 1), with i = monthly rate and n = number of installments
- Real extra cost = sum of all installments − purchase price
Assumptions & limits
- Rate basis: an effective annual rate (E.A.) is converted to its monthly equivalent, (1 + E.A.)^(1/12) − 1; a nominal APR is divided by 12. E.A. is the default in Spanish (Colombian convention), APR in English (U.S. convention).
- Fixed rate and fixed installments. Card handling fees or insurance are not included unless you enter them as the one-time fee.
Educational estimates, not financial advice. Check important decisions with your lender or a licensed advisor.
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