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cost of credit Calculator


Some people use credit to pay for everything from everyday purchases like groceries and meals to large purchases like vacations and big ticket items. No matter what you use credit to buy, it’s important that you use it responsibly so you don’t run into credit problems such as missing payments, overspending, or having a high credit usage ratio (to learn how to calculate your credit usage ratio, watch this quick video). Having strong credit management skills and knowledge is important to maintain a positive credit report and score which can impact your ability to buy or rent a home and obtain a job you are otherwise qualified for.

Now that you know exactly how much your purchases on credit are truly costing with interest rates and planned monthly payments factored in, you have a clearer sense of how you personally use credit. If you are looking to improve your credit management skills, checkout ACCC’s educational credit materials on everything from understanding credit reports to how to write a credit report dispute letter and a list of the 20 steps to financial health. For more tips on how to manage credit and how to reduce debt, check out the credit section on the Talking Cents blog here.

American Consumer Credit Counseling (ACCC) is a nonprofit debt management company that provides consumers with personalized counseling and solutions for consolidation of debt. Since our founding in 1991, ACCC's consolidated credit counseling services and debt assistance programs have been helping consumers consolidate debts and regain control of their finances. If you're wondering "What's the best way to consolidate my debt?", an ACCC counselor can show you how to consolidate your debt without having to take a loan or pay hefty fees. First, check out our credit counseling reviews to see what our customers have to say about our consolidated credit solutions and the personal touch that helps make ACCC one of America's most well-regarded debt management agencies.

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