Credit Card Direct: Credit Card Pay Off

Credit Card Pay Off

Use this calculator to see what it will take to pay off your credit card balance, and what you can change to meet your repayment goals.

This Financial Calculator requires a Browser with Java Support

User's Guide Manual

To use this calculator effectively:
1. Read the definitions at the end of this page.

2. Enter all of the variables: time frame, rate (%) and dollar ($) amount.

3. Select the "Details" button to open a budget table calculator. Enter all of the variables: rate or dollar ($) amount; then, click "OK".

4. Select varieties of options and possibilities.

5. To see the results Click "Calculate" button.

6. To read and print more detailed explanations of the results, click "View Report" button.

Definitions

Current balance Current outstanding balance on your credit card.

Payoff goal (in months) Your goal for paying off this credit card. This is the number of months by which you would like to have completely paid off this credit card balance.

Current monthly payment The amount your are currently paying per month on this credit card. Please enter the amount you actually pay, not the minimum payment. This amount is used to calculate how long it will take you to pay off your balance.

New charges per month Total new charges you expect to put on this credit card per month.

Interest rate (APR) The annual percentage rate for this credit card.

Annual fee Your annual fee for this credit card.

Major purchase If you expect a major purchase beyond your normal charges, enter the amount to be spent here.

Months from now Number of months before your major purchase will occur.

* Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

* You may link to our calculator web sites or print them out for your own personal use, but no parts of these pages or program can be copied, reproduced, sold, or transmitted in any form without explicit written permission. By copying or paraphrasing the intellectual property on this site, you're automatically signing a binding contract and agreeing to be billed $10,000 payable immediately.

Current balance	Current outstanding balance on your credit card.
Payoff goal (in months)	Your goal for paying off this credit card. This is the number of months by which you would like to have completely paid off this credit card balance.
Current monthly payment	The amount your are currently paying per month on this credit card. Please enter the amount you actually pay, not the minimum payment. This amount is used to calculate how long it will take you to pay off your balance.
New charges per month	Total new charges you expect to put on this credit card per month.
Interest rate (APR)	The annual percentage rate for this credit card.
Annual fee	Your annual fee for this credit card.
Major purchase	If you expect a major purchase beyond your normal charges, enter the amount to be spent here.
Months from now	Number of months before your major purchase will occur.