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If you've got credit card debt that you can't payoff right away, the
worst thing you can possibly do is make only the minimum payment.
Credit card minimum payments are designed to keep you in debt, and you'll pay
far, far more than you actually owe. Our calculator below will show you how much
faster you can pay off your debt if you make fixed monthly payments rather than
the minimum payments. Check out the difference between making the minimum
payment compared to the maximum monthly payment you can afford.
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Fixed vs. Minimum Credit Card Payment Calculator
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Enter principal balance owed ($):
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Enter your credit card's annual interest rate (%):
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Minimum payment percentage:
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Fixed payment amount you could afford each month ($):
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Results
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Number of months making payments:
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Number of years to pay off existing balance:
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Interest paid:
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Principal paid:
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Longer term payment schedules make take 30 seconds or more to appear on your screen.
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