Have you ever wondered if your monthly payments towards your credit card debt are making a difference? With National Debt Relief’s Credit Card Payoff Calculator, you can project how long it will take you pay off your debt using your current payment structure. You may be surprised to see how many months it’ll be before you’re finished – especially if you happen to be paying minimum payments on your monthly bills. Use this calculator to plug in higher and lower monthly payment amounts. See how these changes, even small ones, have giant impacts on your end date.
Credit Card Pay Off Calculator
To use the Credit Card Payoff Calculator, you’ll need to know the current balance on your account, your interest rate (or APR), and current monthly payment. Do you have a payoff goal or number of months you’d like to be done paying off this debt? Enter that as well to see how that affects your recommended monthly payment. On the right side of the first graph, you’ll see your current monthly payment with “new payment” listed underneath. Look at the graph to see how changing your monthly payment to this new amount can have drastic changes on how long it will take you to finish. If you can’t afford this new amount, don’t worry. Even a little bit extra goes a long way.
You should also enter any additional monthly charges that are going on your card (although ideally, this would be $0) as well as any annual fees. Don’t know if your card or account charges annual fees? Make sure you find out. Hidden fees are tricky, so it’s best to be aware of what you’re paying for. Call your creditor for more information on this. If you need to use this card for any major purchases, plug this amount into the calculator as well. Adding more debt to your card will only prolong the payoff time, so it’s even more important to increase your monthly payment amount whenever you can.
National Debt Relief helps people nationwide resolve $10k or more in unsecured debt. Our debt coaches negotiate with creditors on your behalf so that you pay a fraction of what you owe and can become debt free in as little as 24-48 months.
