Credit Card Consolidation Calculator

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Posted: Sat Oct 16, 2004 1:48 pm
Post subject: Credit Card Consolidation Calculator

Debbie Roulston
Date: 1/14/2001 12:37 am CDT

When I input the information on the calculator as to should I consolidate, I don't understand one thing....why is it when I am only paying out $125.00 on two credit cards, the calculator shows current payments of $236.00??? So, of course it is going to look good on paper if my payments are "reduced" to $190.??????
I know that I would save in interest but I do not understand the monthly payment part of it. Thanks for your help.
Debbie

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archive
Posted: Sat Oct 16, 2004 1:49 pm
Post subject: Credit Card Consolidation Calculator

Board Monitor - CA
Date: 1/16/2001 7:13 pm CDT

Debbie,

Which particular calculator are your referring to? Also, please describe what you entered into the calculator in more detail. I am somewhat confused, but will try to help.

Best Regards,
Curtis Arnold
CFCCT P.R. Director
http://www.cardratings.org

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archive
Posted: Sat Oct 16, 2004 1:49 pm
Post subject: Credit Card Consolidation Calculator

Board Monitor - CA
Date: 1/18/2001 10:26 am CDT

Debbie,

I assume you are referring specifically to our "Debt Consolidation" calcultor. However, I am still confused. This calculator only has fields for your balances on each card and interest rate on each card...not for your monthly payments. Maybe we are talking about two different calculators. Out of curiousity, are you considering a "home equity" type loan to pay off your existing two cards?

Best Regards,
Curtis Arnold
CFCCT P.R. Director
http://www.cardratings.org

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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