Figuring out how to tackle your credit card debts can be challenging. Paying down credit card debt or eliminating it altogether will save you a heap of interest.

This calculator is designed to show you how long it will take to pay off your credit card and how much interest you will pay if you only make the minimum monthly payment

  1. From your most recent credit card statement, enter your balance, annual interest rate and minimum payment requirements
  2. Click once on the "Calculate" button to calculate your result
Current Account Balance: $
Annual Interest Rate:    %
Minimum Payment Percentage:
Normally Zero		    %
Minimum Payment Amount: $


RESULT
Total Interest Paid: $
Number of Payments: =
Number of Years: =

NOTES

Minimum payment requirements can usually be found on your credit card statement as part of the terms and conditions. This is not the amount shown as the minimum payment due for that month but rather the basis for calculating all minimum monthly payments in percentage and dollar terms.