Launching New Credit Card Calculator for Australians

Credit Card Compare ( http://www.creditcardcompare.com.au/ ) has launched a new credit card calculator on its website to help Australian consumers battle debt and choose the most suitable credit cards on offer from major banks and lenders.

Based on the information you insert, the "Credit Card Debt Calculator" will show you how long it will take to pay off your credit card debt. The tool lets you see what happens if you change your monthly repayments. Better still, if you set yourself a deadline for clearing your credit card debt, the tool will calculate for you the required repayment each month.

Credit Card Compare founder David Boyd is leading the development of the web site and says, "Many working Aussie's are going online to compare credit cards and use personal finance tools. Our new Credit Card Debt Calculator is a simple, easy-to-use tool which will help Aussie's get a handle on their finances."

Credit cards have become a major part of everyday Australian spending habits with a total value of over $18 billion in credit card transactions in any single month. The average Australian household own over $3000 in credit card debt.

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Credit Card Compare started in 2008 with the objective of allowing consumers to compare credit cards online, review the options and apply directly and securely online from the bank or credit card lender. The website also has a blog, the Credit Letter where our writers regularly post useful money saving tips and interesting personal finance editorials. Consumers interested in receiving money saving tips can subscribe to 'the Credit Letter' blog via RSS or receive an email newsletter.