Post date: Dec 11, 2019 12:51:45 PM
Our Credit Card Payoff calculator will help you get out from under that huge pile of debt that keeps building and building on top of you. While you pay the minimum payment each month, the interest you're paying on the outstanding balance just keeps growing. The credit card companies want you to pay the minimum because they're earning an interest rate on you that is twelve to fifteen times the average national savings rate!
One of our recent customers told us that by using this spreadsheet, she was able to cut 5 months off her interest payments and reduce her total interest by almost $1,000 !
You can use this calculator to try out a few scenarios - payment plans - and see the impact on the money you'll save in interest and how much sooner you can pay off that high interest debt. Try it!