Tools and Calculators

Thinking about buying something new with your credit card?

Make sure you know how much the item will really cost if you don’t pay your monthly bill in full.

Even small purchases can become a bad deal if you have to pay interest charges.

TRUE COST of a Credit Card Purchase

Cost of Item you are buying on a credit card ($)*

Annual Interest Rate (APR) of your Credit Card (%)*

How much will you pay per month for your purchase? ($)
You should pay at least the minimum payment calculated below to avoid additional fees.*

Results based in the data entered above:

The minimum payment for this purchase*

The number of months it will take to pay off your purchase

The total interest you will have paid during those months

The TRUE COST of this item when purchased on a credit card and paid back over time

nper1

nper2

nper

calculated minimum

min-placeholder

lessermin

calculation on minimum

Notes:*Minimum first monthly payment is calculated using 1% of the charged cost + one month interest. The minimum value is $25 or the cost of the item if less than $25.
Calculations are approximate and for educational purposes. Check with your credit card issuer for exact payment details.

Tools and Calculators

TRUE COST of a Credit Card Purchase

More Resources:

Scholarship Search

Coaching Corner

Videos

Tools and Calculators