Find the most cost-effective approach to paying off credit card debt based on a payment you can afford. Enter your current balance, the card's interest rate, and your desired payment for a detailed breakdown of the repayment schedule.
By adjusting the monthly payment, you can visualize how it affects the total interest paid and the time it takes to become debt-free. Use the amortization table for a month-by-month summary of your progress.
This calculator assumes a minimum monthly payment of 1% of the balance or $25 (whichever is higher). The minimum payment policy of your card issuer may differ.
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