Step 1: Enter your details from your latest statement
(Note: Only adjust the Minimum % Payment if the First Month Minimum Payment shown below is different to that shown on your actual credit card statement.)
Your Account Balance
$
Annual Interest Rate
%
Minimum % Payment
%
Step 2: Compare how long it takes to pay off your credit card using Minimum Payments only versus Higher Payments
(Note: Assumes that you do not spend any more, including cash advances, on your credit card.)
First Month Minimum Payment
$
OR
Choose Higher Payment?
$
(Note: The First Month Minimum Payment figure is calculated automatically using Your Account Balance and the Minimum % Payment entered above.)
Step 3: Click Calculate to see your result
By making only Minimum Payments you pay
$26,786 more
over approximately
57 more years
compared to making Higher Payments.
Minimum Payment only
Higher Payment
Time to Pay Off
62 Years and 8 Months
5 Years and 4 Months
Interest Paid
$32,457
$5,671
Out of range - will take more than 90 years
(Note: Choose "landscape" when printing for the best results.)