Creditaid: Helping Canadians Be Debt Free Since 1992

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The real cost of paying the minimum!

Are you making the right decisions on how you make your credit card payments?  Many people base their decisions on paying the minimum amount due each month as required by the credit card company.

While minimum amount may be affordable; it will also cost more money over time. Our calculator will show you how much time and money you can save by making more than the minimum payment each month.

Credit Card Interest Calculator
Discover the Real Cost
This calculator will show you how much interest you will end up paying if you choose to make the minimum monthly payments, or if you choose to make fixed monthly payments.
Enter principal balance owed ($):
Enter your credit card's annual interest rate (%):
Minimum payment percentage:
Fixed payment amount you could afford
each month ($):
Results
Number of months making payments:
Number of years to pay off existing balance:
Interest paid:
Principal paid:
 

Longer term payment schedules may take 30 seconds or more to appear on your screen.

Creditaid is a BBB Accredited Financial Service in Winnipeg, MB Winnipeg Chamber of Commerce Credit Counselling Manitoba Financial Literacy ForumProud-to-Support Habitat 2015

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