AomlyCredit card minimum payment calculator
Enter what's on your card, its interest rate and the minimum your statement asks for. See how long paying only the minimum takes, how much interest it adds, and what paying a fixed amount each month would change.
Worked out month by month: interest on what's left, then the payment. Your bank counts interest by the day, so its numbers will differ a little. Credit card interest in Thailand is capped at 16% a year.
25 months sooner, ฿2,460 less interest
Card debt that actually goes down
Add your card to Aomly with its balance, rate and what you'll pay. Aomly takes the payment out of your daily budget, tracks what's left after each statement, and shows the month the card is clear.
- Each card's statement and due date
- The payment taken out before your daily budget
- A debt plan with the month you're debt-free
Getting off the minimum
Every month adds interest
At 16% a year, each month the balance is left unpaid adds interest to it. Anything you pay above the minimum goes straight to the balance.
Pick a fixed amount
Pay the same amount every month instead of the minimum, which falls as the balance does. A fixed payment finishes years sooner.
Stop adding to it
While you're paying a card down, pay for new things with cash or debit, so the balance only goes one way.
Highest rate first
With several cards or loans, put anything extra on the one with the highest rate, and the minimum on the rest.
Questions
What happens if I only pay the minimum?
You stay in good standing, but interest keeps being charged on everything that's left. Because the minimum shrinks as the balance does, a card can take years to clear, and the interest keeps adding up the whole time.
How is the minimum payment worked out?
A percentage of what you owe, with a smallest amount in baht. Your statement shows both. As the balance goes down, so does the minimum, which is why paying only the minimum takes so long.
What is the credit card interest rate in Thailand?
Thai credit cards can charge up to 16% a year. Interest is charged from the day of each purchase when you don't pay the full statement balance.
Is it free? Is anything saved?
It's free, with no account to make. The numbers stay on this page and aren't sent anywhere.