| Fill in the two boxes below, then choose option A, B or C. | |
| 1. Total balance to be repaid | $ |
In this box, enter the remaining balance on your credit card.
For example, if you owe $400, go back to the calculator and enter this amount in the empty box.
| 2. Annual interest rate | % |
In the empty box, enter the annual interest rate paid on your credit card.
This rate is generally about 18% annually.
If your card’s annual interest rate is 18%, enter 18.
What do you want to know? | |
| A) I want to know how long it would take to pay off my credit card balance in full if I make monthly payments of $ |  |
| B) I want to know how much I would have to pay each month to pay off my credit card balance in full in months. | |
| C) If I make only the minimum payment every month, how many months would it take and how much would I pay in interest charges? | |
|
Note: We are assuming that your credit card has no annual fees. Other charges may apply, such as inactive account fees, NSF charges, foreign exchange charges and cash advance charges. We are assuming that the minimum payment on your credit card is $10 or 3% of the balance (whichever the greater). |
NOTICE - TERMS OF USE FOR CALCULATION TOOLS
Last updated on december 2007
This notice should be read in conjunction with the Terms of Use and privacy policy regarding the AMF website which you will find at the following address: http://www.lautorite.qc.ca/legal/politique-confidentialite.en.html
The calculation tools you use on the AMF website are for your personal use, for educational or information purposes only. The results produced by these tools are for information only. The purpose of these tools is not to offer legal or financial advice. Depending on your requirements and situation, the AMF suggests that you consult a professional advisor.
WHEN YOU USE THIS CALCULATION TOOL, YOU AGREE TO DO SO AT YOUR OWN RISK. THE AMF MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER REGARDING ITS WEBSITE, INCLUDING THE TOOLS OFFERED ON THE AMF WEBSITE. ALL TOOLS ARE PROVIDED WITHOUT LEGAL WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLICIT. THE AMF DOES NOT MAKE ANY REPRESENTATION RELATIVE TO THE USE OF OR RESULTS THAT MAY BEOBTAINED FROM AMF WEBSITE TOOS, OR TO THEIR RELIABILITY, ACCURACY OR CORRECTNESS. SUBJECT TO ANY MANDATORY PROVISIONS OF LAW, THE AMF WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGES WHATSOEVER, INCLUDING IN PARTICULAR DIRECT OR INDIRECT CLAIMS RESULTING FROM USE OF THE TOOLS AND INFORMATION PROVIDED ON THE AMF WEBSITE. THIS LIMITATION APPLIES IN PARTICULAR TO DAMAGES FOR LOSS OF BUSINESS, INFORMATION, PROGRAMS OR DATA, LOSS OF PROFITS AND LOSS OF REVENUES, EVEN IF THE AMF IS EXPRESSLY NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
This notice is governed by the laws in force in the province of Québec. You agree that any dispute relating to the interpretation, application, or execution of this notice shall be settled by the relevant courts in the province of Québec.