Credit Card Repayment Calculator
How much time and interest you can save by paying more than your minimum repayment.
FAQ
Your credit card balance is a debt that must be repaid in monthly repayments. The minimim amount of your credit card debt repayments is a (small) percentage of the total closing balance on the credit card at the end of the month or interest-free period. After the interest-free period, the credit card repayments must equal the minimum amount or additional interest or penalties may be applied to the accumulated credit card debt.
Credit card debts attract interest charges after the interest-free period expires. Monthly minimum credit card repayments are based on a percentage of the total outstanding debt. Your credit card annual fee is also added to your credit card debt and must be repaid. A balance transfer period can also affect how your monthly repayments are calculated. Your credit card has a product disclosure statement that explains how repayments are calculated and applied to your account. InfoChoice has general advice and content guides that may be able to help you understand more about financial products. For more personal advice relating to your individual financial situation, seek advice from an adviser with an australian financial services license.
Other Calculators
Stamp Duty Calculator : Calculate what your upfront or transfer costs are when buying property by using our Stamp Duty Calculator
Borrowing Power Calculator : Calculate the maximum loan amount you can borrow based on your income and expenses by using our How much can I borrow calculator
Home Loan Comparison Calculator : Calculate your home loan repayment options based on fixed vs variable home loan rates by using our Home Loan Comparison Calculator
Mortgage Extra Repayment Calculator : Calculate how quickly extra repayments can help pay off your home loan by using our Mortgage Extra Repayment Calculator
Lump Sum Repayment Calculator : Calculate how much lump sum payments on your mortgage can help you save by using our Lump Sum Repayment Calculator
Refinance Calculator : Calculate how much switching your home loan can help you save by using our Refinance Calculator
Split Loan Calculator : Calculate the benefits of having a split loan and experiment different split loan scenarios by using our Split Loan Calculator
Principal and Interest Calculator : Calculate the benefits of making principal payments off your mortgage by using our Principal and Interest Calculator
Where Can I Borrow Calculator : Calculate your affordability based on the property location by using our Where Can I Borrow Calculator
Savings Calculator : Calculate how much interest your savings account can help you earn by using our Savings Calculator
Budget Planner : Calculate your income and expenditure targets to help you reach your savings goals by using our Budget Planner
Term Deposit Calculator : Calculate how much interest your term deposit can help you earn by using our Term Deposit Calculator
Income Tax Calculator : Calculate how much income tax you would potentially pay based on your current income and how it compares to the previous year by using our Income Tax Calculator
Credit Card Calculator : Calculate how long it will take to pay off your credit card by using our Credit Card Calculator
Personal Loan Repayment Calculator : Calculate how much your repayments would be based on the personal loan amount you’re looking to borrow by using our Personal Loan Repayment Calculator
Business Financial Summary Calculator : Calculate your business’s financial summary based on setup and running business costs by using our Business Financial Summary Calculator
Margin Lending Calculator : Calculate geared vs ungeared portfolio costs and returns by using our Margin Lending Calculator