If you buy a big-ticket item like a stereo, or even something little like a new pair of shoes,
you should know how much your purchase will really cost you if you charge it to a credit card.
So here's a calculator that will crunch the numbers for you.
Enter the amount of your purchase.
For "Interest Rate", enter the amount you're paying on your credit card, or
enter a typical amount, such as 15%.
We included the average "Minimum Payment Percentage", or you can enter your own according to what your credit card requires.
We included a "Minimum Payment" of $10, or you can enter the amount your credit card requires you to
pay each month, or you can enter the amount you'd like to pay each month.
Click the "Calculate" button to get the awful truth.
Once you've recovered from the shock, consider alternatives such as: only paying with a checking account debit card, paying off your entire credit card balance each month, or, at the very least, always paying several times the minimum payment amount.