Don’t let interest be a mystery to you. The more you know, the less you will pay… and we’re here to help you every step of the way!
The interest you pay on your credit card debt can quickly get out of hand and make your initial purchase cost far more than you planned. Don’t unknowingly pay $20 for a $5 latte! It might be a great latte, but it’s probably not that great! (If it is, send us an email about it; we love lattes!) Okay, back to the good stuff: it’s super important to know how your interest is impacting your overall payment.
Using a credit card interest calculator can help determine just how much you’re paying in interest and how long it’ll actually take you to pay off your balances.
When you enter numbers in the calculator, it tells you how long it will take to pay off your debt and the total amount you’ll pay in interest. Love math? Click the “view report” button to get a more detailed analysis of your results.