How Much is Your Credit Card Debt Costing You?

Making minimum repayments on your credit card means you’re just paying off the interest which doesn’t make a dent in your actual balance. Use our Credit Card Calculator to see how much your credit card debt is costing you in interest.

Credit Card Debt

You'd pay back: $10,000
This calculator is based on making the minimum repayment amount at a 18% interest rate. Minimum repayments are calculated as a percentage of the closing balance, typically 2 or 2.5%, or a set dollar amount, usually around $20, whichever is greater. Your repayment will never be more than your closing balance.

Check Out Our Debt Calculators


Loan Repayment

Debt Consolidation

Credit Card Debt


Personal Loans

Car Loans

Business Loans

Credit Card Tips

Make Higher Repayments

Repaying just the minimum on your credit card will mean you’ll only ever pay back the interest, not the actual balance. Pay off extra every month by rounding up your repayment or splitting your repayments from monthly to fortnightly.

Consider a Balance Transfer

If you have a credit card with a high interest rate, you may be able to transfer the balance on to a low rate balance transfer credit card. Many banks offer balance transfer deals, with rates as low as 0% for up to 12 months.

Choose a Low Rate Card

By comparing your credit card interest rate to those available on the market, you may find you can achieve a lower interest rate. Unless you’re on a super low rate already, changing your credit card can save you thousands in interest.

Consolidate Your Debt

By consolidating your credit card debt into a personal loan or your mortgage, you eliminate high interest rates and multiple payments. Instead, you will have just one repayment and one fixed, potentially lower interest rate.

How We Can Help

At Debt Rescue, we’re dedicated to finding the right solution to get you out of debt as fast as possible. We understand there’s a no one-size-fits-all solution to debt and that everyone’s needs are different, which is why we take the time to understand you, your finances, your debts and your situation to recommend the best solution moving forward.

If you are struggling with credit card repayments, we can help. We offer a wide range of debt relief solutions such as debt consolidation, mortgage refinancing, Informal Agreements and Debt Agreements. We help thousands of Australians every year find financial relief and get back to what matters the most. Get in touch with our expert team today for a free 30-minute consultation.

"Very friendly and prompt service with very easy-to-use guides and persistent follow-up by your own specialised case manager which helps with communication and ease of stress."


Our Services

Our professional team understands each person’s circumstances are different, which is why we offer a range of creditor agreement options under the Debt Management Plan. This ensures the outcome achieved for you is suitable and sustainable. A summary of our Debt Management options:

Debt Agreement

A Part 9 Debt Agreement is a legal and binding agreement with your creditors. A Debt Agreement outlines a new payment arrangement which will reduce your debts, pause your interest, reduce your payment amounts and generally last between 3 to 5 years.

Debtstroyer Agreement

A Debtstroyer Agreement (Informal Agreement) aims to reduce repayments and pause or reduce interest on your debts. It is a private arrangement directly between you and your creditors to ensure your debts are manageable based on your budget.

Debt Settlement

If you have access to a lump sum which is not sufficient to repay your outstanding debts in full, a Debt Settlement may help. It is designed to waiver or reduce debt amounts to allow final settlement with your creditors.


An Agribusiness arrangement is a specific arrangement for those caught up in failed agribusiness loan schemes. It can take the form of a long-term payment arrangement or lump sum settlement, depending on your individual circumstances.


A Moratorium is a short term arrangement with creditors (secured or unsecured) which pauses or significantly reduces repayments and interest over a period of 3 to 12 months.

Loan Renegotiation

Loan Renegotiation is a renegotiation of current loan terms and conditions to reduce interest, increase the loan term with ultimate outcome being a reduction in the minimum loan repayments.