Greg Williams, CFP®

Financial Services Representative, Investment Adviser Representative

Financial Planner, CA Insurance License #: 0B29281. Domiciled in CA.

Printed from: www.grwilliams2.com

Credit-Card Debt

How Long Will It Take to Pay My Balance?

If you have accumulated credit-card debt, you can use this calculator to estimate how long it could take you to pay off that debt based on your payment amount.

Assumptions:

  • No additional charges are added to the balance.
  • 12 equal billing cycles per year.
Your Results
Description Amount
My current credit card balance: $0.00
The annual percentage interest rate on your card: 0%
The minimum amount required to pay only the interest: $0.00
Each month you plan to pay: $0.00
At that payment, the time required to pay off your balance: 0 years
You will pay total interest of: $0

This chart shows the number of years it would take you to pay off your balance based on the information you provided. You can substantially reduce the time needed to pay off your debt and your total interest paid by increasing monthly payments. If you feel your credit card interest rate is too high, you may want to consider whether you can transfer your balance to a lower-interest card.

Credit Card Balance Over Time

Contact Information:

MassMutual Northern California

2150 N. 1st Street Suite, 500
San Jose, CA 95110

Securities and investment advisory services are offered through qualified registered representatives of MML Investors Services, LLC, Member SIPC. MassMutual Northern California 6701 Koll Center Parkway Suite # 140 Pleasanton, CA 94566 (925) 979-2300 

CRN202706-6621463

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