Credit Card Calculator
Credit Card Details
Payment Analysis
Months to Pay Off
0
Total Interest
$0
Total Payments
$0
Monthly Interest
$78.75
| Month | Payment | Principal | Interest | Balance |
|---|
Credit Card Debt Management
Payment Strategies
Fixed Payment Strategy
- Pay more than minimum each month
- Consistent payment amount
- Faster debt payoff
- Less total interest paid
Minimum Payment Strategy
- Lower monthly payments
- Longer repayment period
- More total interest paid
- Better for tight budgets
Tips for Faster Payoff
- Pay more than the minimum payment
- Make additional payments when possible
- Avoid new purchases while paying off debt
- Consider balance transfer options
- Create a budget to maximize payments
Understanding Credit Card Terms
- APR: Annual Percentage Rate - yearly interest rate
- Grace Period: Time to pay without interest charges
- Minimum Payment: Lowest amount required monthly
- Balance Transfer: Moving debt to another card
- Cash Advance: Borrowing cash (usually higher rates)