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How Much is Your Credit Card Debt Costing You?

Making minimum repayments on your credit card means you’re just paying off the interest which doesn’t make a dent in your actual balance. Use our Credit Card Calculator to see how much your credit card debt is costing you in interest.

Credit Card Debt

You'd pay back: $10,000
This calculator is based on making the minimum repayment amount at a 18% interest rate. Minimum repayments are calculated as a percentage of the closing balance, typically 2 or 2.5%, or a set dollar amount, usually around $20, whichever is greater. Your repayment will never be more than your closing balance.

Credit Card Tips

Make Higher Repayments

Repaying just the minimum on your credit card will mean you’ll only ever pay back the interest, not the actual balance. Pay off extra every month by rounding up your repayment or splitting your repayments from monthly to fortnightly.

Consider a Balance Transfer

If you have a credit card with a high interest rate, you may be able to transfer the balance on to a low rate balance transfer credit card. Many banks offer balance transfer deals, with rates as low as 0% for up to 12 months.

Choose a Low Rate Card

By comparing your credit card interest rate to those available on the market, you may find you can achieve a lower interest rate. Unless you’re on a super low rate already, changing your credit card can save you thousands in interest.

Consolidate Your Debt

By consolidating your credit card debt into a personal loan or your mortgage, you eliminate high interest rates and multiple payments. Instead, you will have just one repayment and one fixed, potentially lower interest rate.

Check Out Our Debt Calculators

Budgeting Calculator Icon


Loan Repayment Calculator Image

Loan Repayment

Debt Consolidation Calculator Icon

Debt Consolidation

Credit Card Debt Calculator Icon

Credit Card Debt


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Personal Loans

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Car Loans

Business Loan Calculator Icon

Business Loans

How Can We Assist You Today?

Business Debt Icon Business
Personal Debt Icon Personal
Please select an assistance option to continue.

Types Of Unsecured Debts

Credit Card Icon Credit/Store Cards
Personal Loan Icon Personal Loan
Pay Day Loan Icon Pay Day Loan
Tax Debt Icon Tax Debt
Disconnected Utility Bill Icon Utility Bill
Other Debts Icon Other
Please select at least one type of unsecured debt.

Your Business Structure

Sole Trader Icon Sole Trader
Partnership Icon Partnership
Company Icon Pty Ltd Company
Trust Icon Trust
Please select at business structure to continue.

Unsecured Debt Amount


Business Debt Amount


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