Free Credit Card Calculator!

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Introduction and Explanation of Website

The Book
Going Straight: An ex-convict/psychologist tells why and how

America's Crime Problem
Why us? Facts, myths, and ideas

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Articles and papers by and about Dr. Fauteck

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What others have said about Going Straight...

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Bad and Good, Then and Now

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How long would it take to pay off a particular balance on your credit card? Just enter the expected balance, the interest rate charged by the issuing bank, the minimum monthly payment as a percentage of the balance, and the minimum monthly payment as a dollar amount. The calculator will instantly tell you how many monthly payments it will take, over how many years, and how much total interest you will have paid. The interest rate and other conditions should be in a document you received from the issuing bank, and in the small print that accompanies monthly statements. Note that tardiness in making payments may allow the bank to increase the interest rate without warning.

Credit Card Minimum Payment Interest Calculator

This calculator will show you how much interest you will end up paying if you make only the minimum required payment on your credit card bill. It will also tell you how many minimum payments you will make before your balance is paid off (up to a maximum of 600 payments).

Instructions: Somewhere in your credit card disclosure statement the card company will tell you something like "your minimum payment will be 2% of the balance or $10, whichever is higher. These are the figures you will enter in Column C and Column D respectively.

Dollar
Amount
Charged
Annual
Interest
Rate
C
Minimum
Payment
Percent
D
Minimum
Minimum
Payment
Interest
Charges
Number of
Payments
Total #
of Years

If what you learn is disturbing, please read "The Plastic Crime Starter" edition of
Straight Talk.

 

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