For credit cards (first three lines), the regular payment method will make payments equal to the larger of the monthly payment
you enter or the minimum payment required. Minimum payment factors are set by your credit card issuer. This calculator treats
the minimum payment as equal to the greatest of (1) a minimum percentage multiplied by the card's balance, (2) a (usually
lower) minimum percentage multiplied by the card's balance plus interest on the balance, or (3) the minimum amount (for
example, $15 or $25). Some cards use either factor (1) or (2) (rather than both factors) along with factor (3). In that case, you can
make either (1) or (2) (but not both) not applicable by selecting N/A for the percentage. To project only minimum payments,
enter $0 for a credit card's monthly payment.
For other loans (last three lines), this calculator treats the minimum payment as being the same as the regular monthly payment
This amount will be used first to make the minimum payment required for each debt, and then any
remaining dollars will be allocated to outstanding debts with the highest interest rate(s).
This amount must not be less than the greater of the total for the initial minimum payments for
all credit cards and loans or the total for all the monthly payments you entered.