Balance on your card $[VALUE]
This tool uses your card balance, interest rate and expected repayment preferences to determine the approximate amount of interest you will pay, as well as the length of time that will be required to pay off your card.
It’s very difficult to get out of debt with only making minimum payments, and it will cost you a lot in interest. See how much faster and cheaper it would be to make fixed payments instead.
Fixed payments often mean you’ll pay less interest and zero your balance sooner, but it depends on how much you regularly pay. Change your fixed payment to see how paying even a little extra each month can save you more.
Results of this calculator are a guide only, and the minimum payment rates in particular can vary depending on your credit card and provider. This calculator doesn’t take into account more spending on the card, fees, or a changing interest rate. Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.