Credit Canada

A not for profit charity since 1966

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Financial tools.

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Debt Calculator

Do you want to know how much you are actually paying your creditors?

Although the minimum payment drops as your balance is paid, due to compounded interest, you are going to end up paying the debt for a very long time. Take a look at how much interest you will be paying for the life of the debt by using our debt calculator.

By entering the required information, you will see the difference your payment can make on the lifetime of your debt.

What is your credit card balance?

$

What is the interest rate of your credit card? (annually)

    %

How is your minimum payment calculated?

   1.5% 2% 2.08% 2.5% 2.78% 3.0% 3.5% 4% 4.5% 5%

Your minimum payment:

$

What fixed payment could you make every month?

$

Calculate a payment table based on:

  Minimum payment    Fixed payment

Credit Canada, the operating name for Credit Counselling Service of Toronto, is a not-for-profit charitable service that has assisted thousands of people with credit counselling and debt management programs since 1966. Our agency is a Charter Member of the Canadian Association of Credit Counselling Services and affiliated with the National Foundation for Consumer Credit (NFCC).

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