Credit card calculator.....extra payments

dazzaofdagenham

Is there a calculator somewhere that I can input my credit card balance and interest rate etc and see the effect of paying extra over time ??

At the moment I have a 4k barclaycard debt and just paying the min payment via direct debit.....but I'm also putting 20 pounds a week in a sealed pot as a sort of savings fund.

What I'd be interested in, if a calculator could show me what effect the 20 pounds per week would be by paying the barclaycard rather than putting it in a sealed tin..

Hope that makes sense

browneyone

I'd also like to see a link

grumbler

the Min Repayment Calc



Repayment Calc

[Deleted User]

Just use the snowball calculator.

http://www.whatsthecost.com/snowball.aspx

Put in the amount you are currently paying, hit Calculate (make a note of the time taken to clear, and the interest charged), then change the amount in the second pull down box, to include the extra ~ £80 pm, then hit Calculate again.

Anthorn

Nice and simple calculator from an APR where interest is compounded monthly.
http://www.thisismoney.co.uk/money/cardsloans/article-1633405/Loan-repayment-calculator.html