Credit Card Minimum Payment Calculator
You have ample motivation with this Credit Card Minimum Payment Calculator to pay more than the minimum payments on credit cards.
Banks offer you the choice to pay only the required minimum amount before the due date. You will be charged late payment fees if you fail to pay at least the minimum amount due. Paying the minimum required will result in interest charges, and it will keep debt hanging over your head for years. This calculator shows how much interest you will pay, the total number of payments, number of years to pay off your debt, foregone interest earnings, and your total estimated opportunity cost.
Credit Card Minimum Payment Calculator
Learn how long your credit card debt will take to be paid and how much it will cost you when you make only the minimum required payment. This credit card minimum payment calculator determines how long it will take to pay off your credit cards and how much interest you will end up paying if only the minimum required payment is made- assuming you stop charging more so the balance stops rising due to spending. To know your minimum payment just check the credit card disclosure statement.
Use this calculator by entering your credit card information below and pressing “view report” to see your payoff details.
Disclaimer: The applicability of this Credit Card Minimum Payment Calculator to your personal financial circumstances and its accuracy are not warranted or guaranteed. This credit card payoff calculator is intended solely for educational and general informational purposes.
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Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes. *Clients who are able to stay with the program and get all their debt settled realize approximate savings of 46% before fees, or 25% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.