--------------------------------------------------------------- Summary
This calculator will
help approximate how much interest you will
pay if you make only the minimum required
payment on your credit card. Additionally,
the calculator approximates how many minimum
payments you will make before the credit card
balance is paid off.
How
to Use the Credit Card Interest Calculator
The results of this credit card interest calculator
are for comparison purposes only. The results
may vary and are only approximations.
To use, enter values for the Credit Card Balance,
Annual Interest Rate (as a decimal), and then
either your Credit Card's Minimum Payment
Amount of the Minimum Payment Percentage.
Only enter data for one of the two fields
(Minimum Payment Amount or Minimum Payment
Percentage) to get more accurate approximations.
You can look at your Credit Card statement
for help in getting this information. After
you enter the necessary data select the Calculate
button. Clicking the Reset button will clear
entered values.
Enter only numeric values (no
commas), using decimal points where
needed. Non-numeric values will cause errors.
Enter
only numeric values (no
commas), using decimal points where
needed. Non-numeric values will cause errors.
In
Brief
Here is a simple calculator
to help approximate what your credit card interest
charges, number of payments and the total number
of years to pay off a given credit card balance
