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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