Fixed Vs. Minimum Credit Card Payment Calculator

This calculator will show you how much interest you will end up paying if you choose to make only the minimum monthly payments on your outstanding credit card bill, or if you choose to make a higher, fixed monthly payment.

Sample numbers are already given - click "Compute" to see the results. To see your payment scenario, simply enter your numbers. Click "Cerate Payment Schedule" to see and printout a monthly break down of your payments. Note: Your actual payments may vary.

Enter principal balance owed ($):
Enter your credit card's annual interest rate (%):
Minimum payment percentage:
Fixed payment amount you could afford each month ($):
Number of months making payments:
Number of years to pay off existing balance:
Interest paid:
Principal paid:

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