Credit Card Interest Payment Estimator
| Description | Amount |
|---|---|
| Credit Card Balance (We are assumming you are not making additional purchases until you pay off this card): $ | |
| Interest Rate Percentage | |
| Additional Principal (on top of suggested payment above): $ | |
| The suggested payment per month to cover the interest of $ plus a $50.00 buffer on top of this payment and any additional principal you add to your payment: $ |
You have errors in the above form. Please ensure you type in values in each section above to continue.
**We do *not* suggest making the minimum payment suggested by your credit card company in any instance as this can potentially put you into permanent payments with your creditor; especially if the interest accrued per month is greater that minimum payment (Ex: $160 Interest is more than your $40 minimum payment).
Credit Card Payment Interest Estimates
Unfortunately your payment $ is lower than the interest amount of $ accrued on your credit card; therefore, you will never pay this credit card off if you don't adjust your payment to be higher than the interest amount. Your monthly payment has to be higher than the interest (we are assumming over $25 a month at $) to pay off the credit card. Please clear this estimator and try again with a higher payment!
How many months will it take to pay off your Credit Card: |
|
|---|---|
How many years will it take to pay off your Credit Card: |
|
Total Interest Paid: $ |
|
Interest made up this much of your credit card payments: |
|
Total Principal and Interest Paid: $ |
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**The above number is an estimation and should only be used as a reference point. Questions regarding the amounts you are paid, deducted, or taxed should all be brought to your employer for further clarification. Workforce 2080 provides these estimations to assist employees and employers determine a rough estimation of what taxes, payments, or deductions *could* be. These estimations should not be construed as implict or explicit guarantees in any way. Many factors come into play, such as rounding of figures in Payroll Software, errors in the submission through this portal etc. Workforce 2080 assumes no risk with these estimations and provides these tools to help educate the general population. All users who use these products and estimators outside of their intended use assume risk when used outside of the scope of educational and general knowledge.
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