Credit Card Payoff

Take control of your debt. Our calculator helps you visualize the timeline to zero balance and understand the impact of your monthly payments.

Card Details

Speed Up Your Payoff

Strategy

Add an extra amount each month to crush your debt faster.

RM

Payoff Timeline

0 Months

Payoff Timeline

0 Months

0 Months

Total InterestRM 0
Total RepaymentRM 0
Current BalanceRM 5,000

Monthly Payment

RM 250

Includes RM 0 extra

The True Cost of Credit Card Debt

Credit card interest rates in Malaysia are typically tiered between 15% to 18% per annum. If you only pay the minimum 5% or RM50 every month, it could take decades to pay off your debt due to how interest compounds.

Our calculator assumes no new purchases are made on the card. The key to paying off credit card debt faster is to pay more than the minimum amount. Every extra Ringgit you pay goes directly towards reducing the principal, which in turn reduces the interest charged next month.

Strategy: The "Debt Avalanche" method suggests paying off the card with the highest interest rate first, while paying minimum on others, to save the most interest.

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See how long it takes to clear your debt and avoid the trap.