Setting Up The Credit Card Payoff Calculator
1. Start Date: Enter the date you plan to starting paying off your debt. We recommend using the current date or a date in the future.
2. Click The Update Debt Accounts Button: This will bring up another window, which will allow you to add the credit card(s) and/or any other debt you want to payoff.
3. Adding A Credit Card or Any Other Type of Debt:
- Debt Account Name: Here you can enter the name of the account (example "Chase Freedom Credit Card").
- Debt Account Category: Select the debt account category that closely fits your debt type.
- Minimum Payment: Enter the minimum payment or the installment payment.
- Note: Use the fixed monthly payment for installment debt (car loans, student loans, personals loans...)
- Interest Rate (APR) %: This usually ranges between 3%-29%.
- Example: If your Interest Rate was 14.99% APR you will enter 14.99
- Current Balance: Enter the current balance of the debt.
4. Click the Add Account button after you've filled out the all of the information in step 3.
5. Repeat steps 3-4 until you have all of your debt accounts list (limit 8).
6. If you need to change or delete an entry select the line from the list and click delete.
- Note: If you enter information incorrectly you will need to delete the entry and follow steps 3-4 to add the correct information.
Using The Credit Card Payoff Calculator
7. To view the dashboard click on Debt Dashboard tab.
8. Get your