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Financial Literacy - Debt management Click HereSponsored by Equifax
TOOLS AND RESOURCES
Debt-tackling tool kit
Use these work sheets, calculators and resources to get out of the red.
 Out of the red and into the black

The true cost of paying the minimum
Calculate your payment and more

  The true cost of paying the minimum
What is your credit card balance? (no commas) $
What is the interest rate on your credit card? *
How is your minimum payment calculated?
Your minimum payment: $
What fixed payment could you make each month? $
Select a payment schedule based on:
 
 

The minimum payment on credit card debt is calculated as a percentage of your current balance. The minimum payment drops as your balance is paid, but thanks to the magic of compounding, you'll end up paying for a long, long time.



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