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Credit card calculator

Thinking about a credit card? It’s important to understand the repayment structure and obligations before you take the plunge, and any fees, minimum repayments and higher repayment options available. You can even check out our fortnightly repayment calculator to see what that time frame will cost you in terms of paying your card off. A common narrative associated with credit cards is that people can tend to overspend, particularly on unnecessary items, as the financial impact isn’t as immediate as using cash or a debit card. This credit card repayment calculator will allow you to input the annual interest rate on a card you have, the balance on that card, minimum repayments (in % and $ terms), a higher repayment and any annual card fees. Combined, this data produces a handy chart outlining the difference between paying the card off faster vs. using minimum repayments – and the results may surprise you! You’ll also be able to see the difference between the total interest paid on minimum vs. faster repayments, and again the disparity between the two can be significant. If you want to make additional payments, you can work out the impact of that using our extra repayment calculator.