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Financial Literacy - Debt management Click Here
TOOLS AND RESOURCES
Debt-tackling tool kit
Use these work sheets, calculators and resources to get out of the red.
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 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: Minimum payment
Fixed payment

Want to transfer a balance? Click here.
 
 

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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News & Advice | Compare Rates | Calculators
Mortgage | Home Equity | Auto | CDs & Investments | Credit Cards | Debt Management | College Finance | Personal Finance
About Bankrate | Privacy | Online Media Kit | Partnerships | Investor Relations | Press/Broadcast | Contact Us | Sitemap
NASDAQ: RATE | RSS Feeds | Order Rate Data | Bankrate Canada | Bankrate China

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2010 Bankrate, Inc., All Rights Reserved, Terms of Use.

Bankrate Privacy Policy