Snowballing when CC payment is % + interest

wickesy

I have debts on 7 different credit cards totalling just under £30,000. I've now reached a point where I can start properly thinking about 'snowballing' but here's the problem I have - most of my cards have a repayment requirement which is, for example, "1% of the remaining balance plus interest". How would I translate that into something that a snowball calculator such as the one at makesenseofcards can recognise so that I can calculate a debt free date? Or is there a better way of working out a debt free date?

Thanks for any help.

Blue28

Hiya - I'm not too sure about the %age I'm afraid, but from what I can remember last time I used the calculator, is there an option to input minimum payment instead of %? You can get this from your statements then?

wickesy

Yes you can put in a minimum payment figure. Looks like the way to go might be to convert all my Direct Debits from minimum payment to a fixed monthly amount - I do that for two of them anyway - then throw an extra payment at the one with the highest interest rate. That one gets paid off in just over 3 years and within a year the other 6 are paid off. I've only done it roughly but I'm looking at a debt free date of somewhere around the end of 2016.