Wednesday, January 6, 2010

Free Credit Card Payment Calculator

I found this free credit card payment calculator on the web on procalcs.com .

Punch in the numbers and get shocked. Copy and paste all of the following link into your address field.

http://www.procalcs.com/credit-card-payoff-calculator.html?CURRENTBALANCE=%248%2C000.00&PAYMENT=%24200.00&INTERESTRATE=15.00&COMPUTE=COMPUTE&CALCULATORID=PC02&TEMPLATE_ID=www.procalcs.com_1&PostBack=true#results

Do something for 2010 and call the credit card company and ask them to reduce your interest rate.

I put in $8000 owed @ 29.99% interest and paying $200/month and it calculated that it would take about 26 years to pay off and $56,000 in interest over that time. These are real numbers that should prompt someone to address their spending.



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