Is there a website to show how much to pay off your credit card to get out of debt?

[ThisIsTheYear]

Hi everyone! My name is Michelle and I'm new here. I'm glad I found this site, I think it will be helpful to me because I'm trying to pay off my debt (and hopefully be able to go back to DW within the next year or two).
Anyway, Bank of America used to have a page on their site that showed you how much to put towards your credit card every month, to pay it off. I can't find it on the site and was wondering where else I could find something like that. Thank you!

 

[lovesmurfs]

Hi everyone! My name is Michelle and I'm new here. I'm glad I found this site, I think it will be helpful to me because I'm trying to pay off my debt (and hopefully be able to go back to DW within the next year or two).
Anyway, Bank of America used to have a page on their site that showed you how much to put towards your credit card every month, to pay it off. I can't find it on the site and was wondering where else I could find something like that. Thank you!

Welcome!
http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx

 

[dfchelbay]

Hi everyone! My name is Michelle and I'm new here. I'm glad I found this site, I think it will be helpful to me because I'm trying to pay off my debt (and hopefully be able to go back to DW within the next year or two).
Anyway, Bank of America used to have a page on their site that showed you how much to put towards your credit card every month, to pay it off. I can't find it on the site and was wondering where else I could find something like that. Thank you!

On your credit card statement, they give you a little blurb about if you pay the minimum payment, it will take you X number of years to pay it off, and if you pay $x amount of dollars per month, you will have it paid off in 36 months, etc.

I also recommend bankrate too. They have a great amortization schedule on their site.

 

[ThisIsTheYear]

Thank you!

 

[DaniB]

Welcome!
http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx

Cool link, thank you!

 

[mom23boys08]

www(dot)powerpay(dot)org is a really good site to use as well. You can plug in all your debt, intereste rate,what/how you are paying on it, and how much you owe. It will give a synopsis of how long it will take to pay it off how it's being done now versus if you paid in a way such as high interest first or low balance first. You can play around with different methods to see which would be the best for your budget. Our military financial counselor recommended this site. I love it!

 

[prncess674]

There is no reason to just pay the minimum on your cards. If you are looking to pay them off, then pay as much as you can as often as you can. Interest accrues daily, so if you get paid paid twice monthly and you can afford to make any payment (no matter how small) twice a month then do so since it reduces the interest owed.

 

[ThisIsTheYear]

There is no reason to just pay the minimum on your cards. If you are looking to pay them off, then pay as much as you can as often as you can. Interest accrues daily, so if you get paid paid twice monthly and you can afford to make any payment (no matter how small) twice a month then do so since it reduces the interest owed.

Thank you for the advice!
Thanks everyone!

 

[disneychrista]

Pay as much as you can reasonable afford.