Credit Card Repayment Calculator

It depends on your balance, your card's interest rate, and how much you pay each month. Most Philippine credit cards charge around 3% interest per month (roughly 36% per year), so a large chunk of a small payment goes to interest. Use the calculator above to see your exact timeline — paying more than the minimum dramatically shortens it. For example, a ₱80,000 balance at 36% paid down at ₱5,000 a month clears in about 1 year and 11 months.

Credit cards in the Philippines carry very high interest — commonly about 3% per month. If your monthly payment is close to the interest charge, almost nothing comes off the actual balance, so the debt barely shrinks. The lower your payment relative to the interest, the longer it takes and the more you pay overall. Increasing your monthly payment is the single fastest way to cut both the timeline and the total interest.

Paying only the minimum keeps you in debt for years and can multiply what you originally borrowed. The minimum is designed to cover interest plus a tiny slice of principal, so the balance falls very slowly. If your payment is too low to cover even the monthly interest, the balance never reduces at all. The calculator above will show "Payment too low" in that case — your debt would keep growing rather than clearing.

High-interest credit card debt (around 36% a year) usually costs far more than a home loan, so clearing or controlling card debt before applying for a mortgage is wise — it also lifts your chances of approval. Lenders look at your existing debt when assessing a home loan. Nook can review your full picture for free and match you to the bank most likely to approve you at the best rate, compared across 20+ lenders.

Yes. Banks in the Philippines look at your total monthly obligations, including credit card balances, when deciding how much you can borrow and at what rate. High card debt can reduce your borrowing capacity or lead to a higher rate. Paying down cards before you apply strengthens your application. Nook reviews your situation and handles the entire home loan application for you — for free, because the bank pays our commission, not you.

Most Philippine cards apply a monthly interest rate to your outstanding balance — commonly around 3% per month, which compounds to roughly 36% per year. Interest is charged on what you still owe, so as the balance falls the interest portion shrinks too. This calculator uses a standard amortisation formula: it works out how many monthly payments at your chosen amount are needed to bring the balance to zero, then totals the interest you'll pay along the way.

Nook is the Philippines' original and award-winning mortgage broker. A dedicated loan consultant reviews your finances — including any credit card debt — and runs your entire home loan application for you, comparing 20+ banks to find the lender most likely to approve you at the sharpest rate. You never fill in bank forms or visit a branch, and it's 100% free because the bank pays Nook a commission once your loan is released.