Banks.com.au - Australian Banking, Finance and Investments

The Credit Card Calculator allows you to work out how much time and money you can save by paying more than the minimum monthly repayment figure that is displayed on your credit card statement.

Credit Card Calculator - Step by Step Guide

This Credit Card Calculator requires Macromedia flash player to be downloaded onto your computer. The Calculator allows you to work out how much you can save by paying more than the minimum amount required that is shown on your credit card statement.

1. You begin by filling in your credit card details. Annual Fee, Annual Interest Rate, Balance Outstanding. Then provide your monthly repayment details, the minimum repayment allowed, in both dollar terms and a percentage.
2. The calculator will then automatically work out the minimum repayment in dollar terms for you.
3. Now put a figure that you wish to pay that is larger than your minimum repayment amount, in the make a higher repayment box.
4. he calculator now shows you the time and money you will save by making the extra payment.

*Please note that the figures displayed are to be used as a guide only.