A credit card payment calculator is a great method for you to take advantage of to help you save money every month when it comes to your monthly credit card payments. There are many credit card payment calculator options out there that you can make use of when searching, but there are 3 main types that are out there that provide you with a different service for each. If you are looking for more info on these credit card calculators and what they can do for you as far as saving money, managing your spending and rewards that you can take advantage of.
Credit Card Payment Calculator – 3 different types
- Minimum Payment Calculators – This card payment payment caluclator will unveil to you how much you will be paying in interest, as well as provide you with the grand total in payments you have left to pay off your debt. This tool can be a little frightening at first and may make it seem as if it’s going to take forever to pay offer your bill, but it can also allow you to play around a little bit with slightly higher monthly payment totals that will show you a shoter time period it would take you to pay the entire debt off. By doing this, say your minimum is 20 a month and you enter 50 a month, the shorter time frame of payments will inspire you to review your expeneses and cut out something to make the higher payment.
- Credit Card Rewards Calculator – This credit card payment calculator is an excellent tool that shows you the total amount you will save in the event that you transfer your current debt to a card that offers you a 0% interest rate. Say for example you have three different credit cards. It will give you a section to enter the amount that you may want to transfer to the zero interest credit card, and right next to it there will be a section where you enter your current interest rate percnetage on the credit card your paying. For example: you want to tranfer 5000 on a card that charges you 15%, you will be saving 615 dollars per year if you switch to the no interest card. This credit card payment calculator will educate you on the benefits and savings you will get by swtiching to a card that offers you zero interest.
- Credit Card Rewards Calculator – This credit card payment calculator is an awesome tool to use if you have a small amount of debt on your card or cards and are looking to get the absolute most rewards like cash back, miles for flights and much more. When using this calculator you will recieve an estimate to what you can earn as far as rewards go when you use your rewards card. It will give you multiple options to enter your weekly and yearly expenses like Gas, Groceries, Dining, Flights and many more. Next to the monthly spending sections, there will be a spot where you can enter the percentage at which you are getting your rewards at which is usually anywhere from one to five percent. You will click enter after you have your monthly expenses and perctages set and will be shown how much you will save per year with a good rewards card.
Credit Card Payment Calculator – Conclusion
With the host of credit card payments calculator options available to you, you can use them all to manage you funds, find ways to save money and get the most out of the rewards you earn annually, making credit card payment calculators a valuable tool that deals with your weekly, monthly and yearly finances.