Credit Card Debt Calculator
The purpose of this credit card calculator is to show you how long it will take you to pay off a credit card paying the minimum interest. I know it is easy to continue using your credit cards with out thinking about what you are paying in interest, but there will come a point when you will need to consider the interest. Lots of people feel that they need to compete with there friends, and/or relatives when it comes to the material things that they buy. Rather than delaying the purchase until you have enough money saved up, its easy to take the credit card out of you wallet or purse and use it instead. This theory can work for a while, and if you are rich, it may work forever. However, if you aren't rich, then this type of credit card spending will quickly catch up with you. This can happen to anyone, its late January, the Super Bowl is just around the corner and the 32 inch t.v. that you bought just the year before, is just to small. You go out to the local electronics store and, whip out that old trusty credit card and buy the new 52 inch HDTV Widescreen. Now you have a really big t.v., but you didn't stop to think, how much is it really costing you. When we start to think about, "What payments can I afford", you are probably on the road to bankruptcy.
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Credit Card Debt
The way this credit card calculator is calculated is it takes 2% of your current balance, and it applies it daily, based on 30 days in a month. If 2% of your current balance is less than 10, than $10 is your minimum payment. Not all credit cards are calculated this way, so this don't use this credit card calculator as an exact figure, however it is a close approximation. I really hope that once you use this credit card calculator, you will see how the credit card companies are making there money by sending you to the poor house. I've heard so many stories about people that appear to be financially stable, when all they are really doing is using credit cards to appear rich. I personally don't appear rich, I'm not, but I'm also not in debt. I'm working on finding a home, getting a mortgage, and controlling my spending. This can be harder to do than I make it sound, but once you get in the habit of saving before spending, you will be able to answer the phone again. Credit card debt isn't something you have to live with, the credit card companies will make you feel like you are getting a deal, but remember they need to make money too. Credit card companies will give you stuff, and I've had friends that think that they are coming out ahead, but trust me, the credit card companies aren't in debt, you are.
Add this to your site
If you have a website related to credit cards and/or credit card debt, you are free to add this calculator to your website. You can add it free of charge, you can modify the form to fit the look and feel of your site, the only thing you can't change is the Powered by freemortgagecalculator.net link. The link must appear directly under the form and you can't cover it up or change the color to hide the link. The color is blue, and if you put it on a blue background, then you will need to change the font color to white. Just copy the code for the credit card debt calculator, and put it on your site.
<table>
<form action="http://www.freemortgagecalculator.net/cgi-bin/creditCard.pl" method="post">
<caption><font color="blue">Credit Card Debt Calculator</font></caption>
<tr><td><label for="amount">Enter Loan Amount: </label></td>
<td><input type="text" name="amount" id="amount" /></td></tr>
<tr><td><label for="interest">Enter Interest: </label></td>
<td><input type="text" name="interest" id="interest" /></td></tr>
<td><label for="currency">Select Currency: </label></td>
<td><select name="currency" id="currency">
<option value="dollar">Dollar</option>
<option value="euro">Euro</option>
</select></td></tr>
<tr><td><input type="submit" name="submit" value="Calculate" /></td>
<td><input type="reset" name="clear" value="clear" /></td>/<tr>
<tr><td colspan="2"><a href="http://www.freemortgagecalculator.net" title="Mortgage Calculator" style="text-decoration:none;">Powered by: www.freemortgagecalculator.net</a></td></tr>
</form>
</table>
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