ThinkVault ToolsCredit Card Payoff Calculator

Personal finance

Credit Card Payoff Calculator

Minimum=max(50 in selected currency, post-interest balance×minimum%). No new charges; 100-year limit.

Results

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Fixed-payment months

26
Minimum-only monthsUndefined / not reached in range
Minimum-only total interestUndefined / not reached in range
Fixed-payment total interest$5,797.46
Interest savedUndefined / not reached in range
Months savedUndefined / not reached in range

Fixed-payment months

26

Method and common questions

Tax, lending, holiday and protection rules vary by place and date. Check current local rules and provider terms. Results are estimates.

Purpose and inputs

Compare minimum-only and fixed payments, payoff months, total interest and time saved.

Method and assumptions

Monthly interest = opening balance×APR/1200. After interest, minimum payment = max(50,statement balance×minimum rate), capped at the full amount due; compare with a fixed payment. No new spending, fees or penalty rates are added. Simulation stops at 1,200 months or when payment fails to cover interest; no fictional payoff date is supplied.

Method

Monthly interest = opening balance×APR/1200. After interest, minimum payment = max(50,statement balance×minimum rate), capped at the full amount due; compare with a fixed payment. No new spending, fees or penalty rates are added. Simulation stops at 1,200 months or when payment fails to cover interest; no fictional payoff date is supplied.

CFPB repayment disclosures

FAQ

What are the limitations?
Minimum=max(50 in selected currency, post-interest balance×minimum%). No new charges; 100-year limit.
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