Credit Card Debt Calculators
Credit Card Advice
Credit Card Basics explain all the credit card features and terms you need to know.
Tips to manage and improve your credit standing, Credit Card Management offers helpful advice for improving your credit score.
Practical advice for consumers who fall victims to Identity Theft.
Tips and advice cardholders need to be familiar with for Protecting Against Credit Card Fraud.
Credit Monitoring
Consumers are entitled to a free copy of their credit report from each of the three major credit bureaus every 12 months.
Request your free copy by going to www.annualcreditreport.com or call (877) 322-8228.
CalculatorPlus.com tools can help you make informed financial decisions when obtaining a mortgage loan, or applying for a credit card.
Choosing a Credit Card
Shopping around for a credit card can save you money on fees and interest. Find a credit card with features that match your needs. This information can help you:
- Understand the terms of credit cards
- Compare
credit card interest
, terms and fees
- Know your rights when using your credit card
- Immediately file a complaint if you have a problem with your credit card
Accelerated Debt Pay Off
Credit Card Debt Calculator:
Consolidating your debt and credit card balances is only half of the battle. You still need a plan to get your debt or credit card balance paid in full. The process is simple: just apply a portion of your consolidated loan's monthly payment savings to the consolidated mortgage loan balance -
debt pay off
. You can save hundreds, even thousands in interest and shave years off of your loan. This credit card debt calculator can show you how to accelerate your debt pay off.
Accelerated Debt Pay Off - Definitions
Credit Card Debt Calculator
:By consolidating your debts and applying your savings to reducing the loan balance (debt pay off), you can dramatically reduce your personal debts, eliminate collection calls, and return to accumulating savings. Use this
credit card debt calculator
to determine your interest and savings using this debt pay off technique.
Credit cards - Enter your total
credit card debt
and its average interest rate, or press the "Enter Data" button to enter up to 10 credit card accounts, one on each line.
Auto loans - Click on the "Enter Data" button to input any car finance data, auto loans, etc you may have into the details page. This details page is designed to let you input your current monthly payment, the term (in months), the starting balance and the number of months you have left. It then calculates your outstanding balance and interest rate. You can enter up to three installment loans.
Other loans - Click on the "Enter Data" button to input any additional installment loans you may have into the details page. This details page is designed to let you input your current monthly payment, the term (in months), the starting balance and the number of months you have left. It then calculates your outstanding balance and interest rate. You can enter up to six installment loans.
Balances - Your total current balances for your credit cards, auto loans and other loans.
Interest rates - The average annual percentage rate you pay. This interest rate is calculated for each of the categories of debt you have including credit cards, auto loans and other installment loans. For credit cards the rate you enter is used to calculate the interest on all future credit card payments. The length of time to pay off this credit card may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.
Payment - This is your initial monthly payment. For credit cards, if you checked the "use credit card minimum payments" box, your monthly payment is calculated as 4% of your current outstanding balance. With the "use credit card minimum payments" box checked, your monthly payment will decrease as your balance is paid down. This can greatly increase the length of time it takes to pay off your credit cards. Uncheck this box to enter your own monthly payment that will remain the same until your debt and credit card balance is paid in full - compare credit card.
(We calculate your minimum monthly payment as 4% of your current outstanding balance. While your actual minimum monthly payment may be slightly different, this is one of the most common methods used by credit card companies to calculate minimum payments.)
Accelerated amount - This is an additional amount you wish to pay each month, to more quickly pay off your debt. This amount is added to your normal consolidated loan payment.