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Credit Card Interest: Minimum Payment Calculator

This calculator will show you how much interest you will end up paying if you make only the minimum required payment on your credit card bill. It will also tell you how many minimum payments you will make before your balance is paid off (up to a maximum of 600 payments).
Instructions: Somewhere in your credit card disclosure statement the card company will tell you something like "your minimum payment will be 2% of the balance or $10, whichever is higher. These are the figures you will enter in Column C and Column D respectively.

Dollar
Amount
Charged

Annual
Interest
Rate

C
Minimum
Payment
Percent

D
Minimum
Minimum
Payment

Interest
Charges

Number of
Payments

Total #
of Years

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By making minimum payments on your credit card debt, it could take decades to
pay off and cost you thousands in additional interest.

Money Saving Advice

Payoff your entire balance every month to avoid incurring interest charges. If you are unable to do so, make more than just the minimum payment. Did you know, if you only make minimum payments, as much as 90%+ of your remittance can go to interest alone and the remainder to principle.

Leave you credit cards at home and carry only cash. That way you can't spend more than you have on you at that time.

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Allied Debt Consolidation
3275 W Hillsboro Blvd - Deerfield Beach, Fl 33442
All rights reserved. 1998 to present.
Not available in all areas.
Debt Consolidation - Loans & Credit Card Bill - Debt Consolidation

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