This calculator helps you estimate how much time and interest you can save if you repay more than your minimum repayment.
Credit Card Calculator Assumptions
- This calculator does not take into account credit card fees.
- It is assumed that no additional spending on the card and no cash advances.
- This calculator does not take into account interest-free period.
- The interest rate is the annual rate on your credit card and is compounded monthly.
- The minimum repayment is calculated based on the card balance and the minimum repayment % (percent) or $ (dollars) entered. It varies from month to month.
- It assumes higher amount remains constant each month.
The Credit Card Calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. You should always discuss your individual situation with an Australian Credit Licensee or authorised Credit Representative.
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