Credit card calculator – Use the Atomic Home Loans credit card calculator to calculate how long it will take you pay off your credit card.
This credit card calculator allows you to input your annual card fee, annual interest rate, balance outstanding, and then calculate how long it will take you to completely pay off the outstanding balance on your credit card by making just the Minimum repayment allowed.
Alternatively, you can choose a higher monthly repayment amount. This will in turn allow to you calculate how much faster you can pay off your credit card by making the higher repayments each month.
Keep in mind, this credit card calculator assumes you will not be making additional purchases using your credit card.
It’s also worth noting the difference in total interest paid with varying annual card fee amounts.
If you believe your annual card fee or annual interest rate is too high, start negotiating with your credit card provider for a reduced card fee or a reduced interest rate.
It’s also worth considering a balance transfer. This would mean switching your credit card provider to a new provider whom is offering anywhere between 12 to 24 months interest free on any balance transfers. When researching the best credit card solution, it is important to review any annual fee charges, monthly account keeping fees and/or any balance transfer fees.
By inputting 0% as the annual interest rate, you can calculate how much you can pay off in the first 12 to 24 months while retaining the same repayments as you previously had.
Finally, if you require more assistance or would like a more detailed explanation on how the this credit card calculator works, contact an expert from Atomic Home Loans by calling (02) 9188 8834 or by leaving us a message on our contact us page so one of our experts can get in touch with you.See All Calculators