Mortgage Calculator

Credit Card Calculator

Credit cards can be useful for managing expenses and increasing financial flexibility when used effectively.  This credit card calculator helps you estimate how long it will take to pay off a credit card by making only the minimum repayments.  It also shows you how much time and interest you can save if you repay more than your minimum repayment.

Play with the credit card calculator below to help you make informed decisions around managing your credit cards and finances.

Important notice: All computations are for illustrative purposes and do not constitute advice or a guarantee of a loan approval.

How The Credit Card Calculator Can Help You

Some people don’t realise how easily a credit card can become a financial burden. For example, if you were to use a credit card until it is at it’s credit limit and then only pay back the minimum repayment, it’s likely that you’d only be paying off interest.  Worse still, just paying the minimum payment means it will take you a significantly longer time to clear your debt.

This can become an issue when you want to secure a home loan because it’s one of the factors taken into consideration in your application.

By changing the figures in the credit card calculator above, you can see the benefits of paying higher repayments.

Caution:  Don’t let the figures become overwhelming.  If the figures don’t add up in a way that seems manageable, then contact us at The Property Education Company today and we can suggest some options that can keep you moving forward towards your financial freedom.

Feeling lost in the financial maze? We can help!

Credit Card Calculator Mortgage Broker Melbourne