How long before that credit card is paid off?
John Maeda hosts a handy online credit card calculator you can use to figure how long it will take to pay off your credit card if you make only the minimum payment (answer: forever). If you make only the minimum payment, you could end up paying double what you borrowed. You can experiment by plugging in different payment amounts to see how they affect how much interest you end up paying.
Labels: calculator, credit, debt, interesting
posted by Becky @ Wednesday, January 28, 2009
5 Comments:
It says the year 3000. That can't be right. It must be a Y2K thing. I mean Y3K.
I hope you're kidding.
I'm debt free! At the rate I am saving I will have $1,000 by the year 3000. Hey, why don't we put a comma after the first digit of the year?
Very good.
You're impressed with how much I'm saving?
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