How long does it take you to repay your credit card debt and other loans?

The interest rates on credit cards are often extremely high. They end up costing a lot of money, especially when you only make the minimum payment. To find our how much you’ll have to pay, and for how long, answer the questions below.

Debt repayment options calculator

Fields marked with an asterisk are required. *

Information about your debt

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%
Option A

Only make the minimum monthly payment.

$
%
Debt repayment time
Original balance
Interest fees paid
Total payed
Amount saved
Time saved
Option B

Repay a fixed amount per month based on your ability to pay.

$
Debt repayment time
Original balance
Interest fees paid
Total payed
Amount saved
Time saved

Calculations based on assumption that new expenses have not been added to your credit card or other loan balances during the repayment period.

 

Here are our tips for getting out of debt:

  1. First, pay off credit card debt with the highest interest rate;
  2. If you can’t pay your full balance each month, try to at least pay more than the minimum repayment amount in order to pay the least amount of interest possible.