Fixed vs. Minimum Credit Card Payements

If you've got credit card debt that you can't payoff right away, the worst thing you can possibly do is make only the minimum payment. Credit card minimum payments are designed to keep you in debt, and you'll pay far, far more than you actually owe. Our calculator below will show you how much faster you can pay off your debt if you make fixed monthly payments rather than the minimum payments. Check out the difference between making the minimum payment compared to the maximum monthly payment you can afford.

Fixed vs. Minimum Payment Calculator

See the difference between making minimum and fixed payments on your credit card balance with our free Fixed vs. Minimum Credit Card Payments Calculator. You'll be able to see how much money you'll save and how much faster you can pay off your credit card by making fixed payments.

Enter principal balance owed ($):
Enter your credit card's annual interest rate (%):
Minimum payment percentage:
Fixed payment amount you could afford each month ($):
Number of months making payments:
Number of years to pay off existing balance:
Interest paid:
Principal paid:

Longer term payment schedules make take 30 seconds or more to appear on your screen.

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