Definitions

Balance: The current amount owed on your credit card.
Interest rates: The average annual percentage rate you pay. This interest rate is calculated for each of the categories of debt you have including credit cards, auto loans and other installment loans. For credit cards the rate you enter is used to calculate the interest on all future credit card payments. The length of time to pay off this credit card may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.
Payment %: This is the percentage of your outstanding balance that will be used to calculated your minimum payment for the month. Your monthly payment is calculated as the percentage of your current outstanding balance you entered. Your monthly payment will decrease as your balance is paid down. Payment percentage can greatly increase the length of time it takes to pay off your credit cards.
Payment $: This is your initial monthly payment. For credit cards, this is calculated as your minimum payment. Your monthly payment is calculated as the percentage of your current outstanding balance you entered. Your monthly payment will decrease as your balance is paid down.