Is your money being sucked into a compound interest sinkhole? If you're not paying off your credit cards every month, that's just what can happen. It depends on the interest rate charged by the credit card company and whether you pay as much as you can, or just the minimum amount due. 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? * 1% 2% 3% 4% 5% 5.9% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24% 25% 26% 27% 28% 29% 30% 31% 32% 33% 34% How is your minimum payment calculated? Interest + 1% of Balance 1.5% 2% 2.08% 2.5% 2.78% 3.0% 3.5% 4% 4.5% 5% Your minimum payment: $ What fixed payment could you make each month? $ Select a payment schedule based on: Minimum payment Fixed payment Want to transfer a balance? Click here.