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Line of Credit Calculator

Calculate payments, interest, and amortization schedules for your line of credit. Plan your borrowing and understand the costs with our comprehensive calculator.

Payment per period
Payment per Period
$237.69
Total Interest
$704.46
Total Payment
$5,704.46
Effective APR
12.99%
Utilization Rate
50.0%
Scheduled Periods
24 months

Payment is the greater of the amortized payment and a 3% minimum (at least $50.00).

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Results update as you type.

Line of Credit Calculator

Use this line of credit calculator to estimate a payment per period, total interest, total payment, effective APR, utilization rate, and scheduled periods for a revolving balance. It is useful for personal credit lines, business credit lines, and HELOC style planning.

How to use this calculator

Enter the credit limit, current balance, APR, payment term in months, minimum payment percentage, any additional draws per payment period, and payment frequency. You can choose monthly or bi-weekly payments. The calculator compares the amortized payment with the minimum payment rule and uses the higher amount.

How it works

The periodic rate is the annual rate divided by the number of payments per year. The payment is estimated with the standard amortizing payment formula, then checked against the minimum payment.

payment=balance×r×(1+r)n÷((1+r)n−1)payment = balance \times r \times (1 + r)^n \div ((1 + r)^n - 1)

A 5,000 dollar balance at 12.99 percent APR over 24 monthly payments produces an estimated payment near 237.69 dollars and total interest near 704.46 dollars, before any new draws.

Reading the result

Utilization shows how much of the credit line is currently used. Additional draws increase the balance and can slow payoff. For home-secured credit, compare with the HELOC payment calculator; for fixed borrowing, use the loan calculator or personal loan calculator.

Planning note

This is an estimate. Actual lenders may use daily interest, minimum dollar payments, fees, rate changes, or draw-period rules.

Frequently asked questions

How is a line of credit payment estimated?
The calculator estimates a periodic payment from the current balance, APR, payment term, payment frequency, and minimum payment percentage.
Does the unused credit limit affect interest?
No. Interest is estimated on the outstanding balance, while the credit limit is used to show utilization.
What does utilization rate mean?
Utilization is the current balance divided by the credit limit. A 5000 dollar balance on a 10000 dollar limit is 50% utilization.
Can I model new borrowing on the credit line?
Yes. Use additional draws per payment period to estimate how repeated draws affect interest, total payment, and payoff progress.

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