Credit Card Minimum Payment Interest Calculator


You'll be shocked to discover just how much interest you'll pay, and how long it will take you to actually pay off the total of your credit card balance, if you make only the minimum payment each month.

Plug your actual numbers into the handy calculator below to find out how much interest you'll pay, and how many months it will take, to pay off YOUR credit cards, paying only the minimum monthly payment.



Credit Card Minimum Payment Interest 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 willtell 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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