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credit card interest payment calculator

Release time:2018-01-12

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 debt. 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: On your credit card disclosure statement the credit card company will tell you that "your minimum payment will be 2% of the balance or $10, whichever is higher" (example). These are the figures you will enter in Row 3 and Row 4 respectively. Enter amounts in Rows 1-4 and then press compute. If after calculating the total amount of credit card interest you will pay, you feel overwhelmed or like you are drowning in debt, don’t panic. Call ACCC today at 800-769-3571 to speak with a certified credit advisor about your current financial situation and possible debt solutions based on your personal situation and financial goals. Possible solutions include a debt management plan, social service referrals, and educational materials and resources to help improve your current financial situation and needs. Credit Card Minimum Payment Interest CalculatorThis 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).Enter Dollar Amount Charged:Enter Annual Interest Rate (APR):Enter Minimum Payment Percent: (Check your statement -- usually 2 or 3 percent)Minimum Payment: (Check your statement -- usually 10 or 15 dollars)

 

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Use our credit card interest calculator to calculate how much interest you will pay on your credit card, making miminmum payments.

 

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Tweet; How long would it take to pay off your credit card if you are only making the minimum monthly payment? It will take a long time to pay off the credit card and ...

 

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