Personal Finance
Better Finances for a Better You
Topic: "Credit Card Payoff Calculator"
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Infographic of the week
Mapped: The Average Credit Card Debt in Every U.S. State (2024)
This map visualizes the average credit card debt held by households in each U.S. state and ranks the states where residents pay off the debt the fastest and slowest. Data is sourced from Bankrate (2024) who also used average monthly household income to calculate how long it takes to pay off balances.
Where does your State rank? →Did you know?
The median average credit card interest rate for November 2024 is 24.62%.
How Are Credit Card Interest Rates Determined? →Word of the week
Penalty APR
When you make a late payment, card issuers have the right to penalize you with a penalty annual percentage rate (APR) that is greater than your standard APR.
Start planning to pay off your credit card with our credit card payoff calculator →Word of the week
Creditworthiness
The term "creditworthiness" describes the degree of a lender's trust in a borrower's capacity to return a loan. The borrower's creditworthiness is mostly based on how successfully they have handled their prior financial commitments.
Discover how long it would take to pay down your credit card with our free credit card payoff calculator →← Curating the web to find the most interesting and helpful information about your money.