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Magnolia Real Estate & Property Management, LLC
3510 Manor Drive
Vicksburg, MS 39180
Phone: (601) 638-8884
Fax: (601) 638-8874
The Accredited Buyer Representative (ABR®) designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate BUYER'S AGENT Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS® who meet the specified educational and practical experience criteria.An arrangement by which real estate brokers place their listings together so that all members of the multiple-listing service have an opportunity to sell properties listed by other members of the service.A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION of REALTORS® (USA) or the Canadian Real Estate Association (Canada). The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics.REALTORS® with the SFR certification can be a trusted resource for short sales and foreclosures.Broker Price Opinions (BPOs). REALTORS® with knowledge and skills to reduce risk, increase opportunities, and create professional BPOs.NAR's Military Relocation Professional certification focuses on educating real estate professionals about working with current and former military service members to find housing solutions that best suit their needs and take full advantage of military benefits and support.Hold mouse over logo for description.
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Paying off Credit Card Debt with Minimum Payments

Input Information
Credit Card Balance and Annual Interest Rate
Current Card Balance : ($)
Annual Interest Rate : (%)
Minimum Payment Requirement from the Most Recent Statement
Current Minimum Payment : ($)
Fixed Payment You Can Afford To Pay Every Month
Fixed Payment Amount : ($)
Financial Analysis (Switch to Plain English)
  Minimum Pmts. Fixed Pmts.
Total Payments : $19,081.83 $13,030.01
Payoff Timeline : 18 Years 5 Months 3 Years 2 Months
Time Saved : 15 Years 3 Months
Total Interests Paid : $9,081.83 $3,030.01
Interest Savings : $6,051.82
Plain English Help (Switch to Financial Analysis)

Credit card minimum payments may seem convenient on the surface, but only making the minimum payment each month can be quite costly – and, it can take you several years to finally get your credit card paid off.

Let’s say you have a $10,000.00 balance on a credit card with a 17.500% APR. If your minimum payment is $300.00 and that is all you pay each month, it will take you 18 year(s) and 5 month(s) to finally get that card paid off (assuming you don’t add anymore debt to the balance). You will have also paid $6,051.82 in interest alone.

If you send a fixed $350.00 payment, on the other hand, this extra money will make it possible for you to pay off that same balance in just 3 year(s) and 2 month(s) – that is 15 year(s) and 3 month(s) sooner than if you paid just the minimum payment. You will also only pay $3,030.01 in interest, saving you $6,051.82.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.