Pay Off Credit Card Debt Calculator

Credit cards that are used wisely can support financial needs. But if you use a credit card without proper calculations will make you trapped in debt. Especially if you have more than 1 credit card and that can eventually cause debt to mount. The question is how to pay off the credit card debt calculator.


Using a credit card as a payment instrument of choice is the same as making a loan to cover your purchases, which means you have to pay the amount of money that has been used in the end. Not to mention, the bank will charge a fee for the use of the money, commonly called interest.

Pay Off Credit Card Debt Fast Calculator

As a credit card user, you need to understand the provisions that apply in this interest determination, as well as how to calculate the interest charged, so that you are not confused by the appearance of additional fees in the form of interest on your credit card monthly billing statement.

The calculation of interest arising from Credit Card transactions is usually done with the following conditions:

  1. The calculation of interest days on Credit Card debt is based on and starts from the posting date of the Credit Card Issuer. The posting date is the real date the Credit Card Issuer makes a payment to the Acquirer for the Credit Cardholder's purchase transaction or makes a payment to the ATM operator for a cash withdrawal transaction using a Credit Card;
  2. The calculation of Credit Card interest for the next bill is based on the remaining amount of Credit Card bills for shopping transactions and/or cash withdrawals that have not been paid (outstanding);
  3. Outstanding fees, outstanding penalties, outstanding interest, and bills before maturity, are prohibited from being used as components of Credit Card interest calculation.

For shopping transactions, interest is charged if the Credit Cardholder:

  1. Non-payment;
  2. Make a payment less than the total Credit Card bill (payment is not in full); or
  3. Make full payment after the payment due date. Interest from purchase transactions is not charged if the Credit Cardholder has made full payment no later than the due date or at the time of payment allowance provided by the Credit Card Issuer;

    • For cash withdrawal transactions, interest is charged and calculated from the posting date until the date of full payment by the Credit Cardholder
    • The determination of daily interest is based on the calculation of the number of calendar days in a year, which is 365 (three hundred sixty-five) days.

In the credit card payment system, there is an interest-free period, or interest-free period, where you will be exempt from interest if you make full payment before the due date each month.

If you are late in making payments past the due date, interest will be caused on the difference between the posting day and the bill for each activity. There are at least 3 components of calculating credit card interest.

  1. Interest expense on individual transactions
  2. Interest expense on the current month's total bill
  3. Interest deduction against payments

Hopefully this information about "pay off credit card debt calculator" is useful.


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