Credit Card Payment Calculator
This credit card payment calculator figures how much you will pay in interest using a variety of repayment strategies: fixed percentage payment, fixed monthly payment, or minimum monthly payment.
It will also tell you how long until your debt is repaid and total interest cost. (Of course, this assumes no additional charges to the card.)
When you are done make sure to print an amortization schedule using the button at the bottom. Enjoy!
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How Much Interest Will You Pay On Your Credit Cards?
Does paying interest cause you pain? It should.
Nobody likes to pay money to spend money, but that is what happens when you run up your credit card bills.
The problem is sometimes you just don’t realize how much interest you’re really paying. What if you could know exactly how much interest you’ll pay – would it change your credit card spending habits?
This Credit Card Payment Calculator is designed not only to show you how much interest you’ll pay, but when you’ll repay your debt in full.
Don’t stay in the dark. Let the reality of your situation sink in and (hopefully) motivate you to action!
The Temptation Of Credit Cards
Credit cards come bundled with various attractive features that are difficult to resist. Credit card companies understand that offering perks often leads to a paying customer – something you don’t want to become.
That why you must practice the following 3 responsible credit card habits:
Choose A Payment Method
The Credit Card Payment Calculator allows you to choose one of two payment methods:
Making minimum payments should be avoided if possible, as they typically keep you in debt longer than you want. By creating a budget, you can see exactly how much you can afford to pay toward your credit cards – often resulting in larger payments and less interest.
Credit cards offer unparalleled convenience, but that doesn’t mean you have to pay interest to use them. Use the Credit Card Payment Calculator as a motivational tool, compelling you to avoid interest and years of indebtedness.
How much interest can you avoid by making larger payments? Find out today!
Credit Card Payment Calculator Terms & Definitions:
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