Devise a plan for paying off your credit card debt, including how to get out of an ‘interest-only’ payment cycle.
Calculate how many months it will take you to pay off your current credit card balance (based on your current interest rate).
Calculate your monthly payment obligations (including principle and interest) over a set period of time.
1. Enter your credit card balance in the first box.
2. Enter the applicable interest rate in the second box.
3. Using the drop-down menu, choose whether to calculate the number of months it will take to pay off your credit card or to calculate your monthly repayments.
Please note this calculator is designed to be used as a guide only. Actual credit card payment lengths and totals will vary depending on your chosen credit card provider, bank fees, and more.