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Amount of Debt:
You can enter in the total debt of one of your credit cards or you can enter in the total of all your credit cards. If you choose to enter in a total of all cards make sure to use an average of all your interest rates when you enter in your annual percentage rate.
Annual Percentage Rate
The annual percentage rate or A.P.R is used to calculate how much money you will owe your debtor on top of the original amount you borrowed or charged. The lower the A.P.R the better.
Minimum Monthly Payment (as a percent of your total)
Credit card companies figure out your minimum monthly payment by applying a percentage of the standing total. This figure usually is between 2% and 4%. Many different companies figure this total differently. This information can usually be found on your monthly statement or in your original credit agreement. Look for text on your documentation that reads like this: "Your monthly payment will be 2.5% of your outstanding balance or $20.00 whichever is greater." If you can't find this information, just use the default value of 2.5%.