What Credit Really Costs: Charge It Today, and Pay for It The Rest of Your Life?

Have you ever wondered why it takes so long to pay down your credit card balance after a holiday splurge? Consider this before you sign up for a credit card, shop around and find one with as low of an interest rate as possible. Try not to charge more than you can pay off fully each month.

DISCLAIMER: The accuracy of this calculator and its application to your specific situation is not guaranteed. We encourage you seek advice from qualified professionals regarding all personal finance issues.

Fill in the blanks to calculate what you pay on your credit cards:
Current Balance:   ex: 2000.00
Current Interest Rate (APR):   ex: 19.8
Amount per month you'd like to pay:   ex: 100.00
or
# months you'd like to spend paying the card off:   ex: 100.00