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Thread: How Much is Your Credit Card REALLY Costing You??. . .
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Sat, Apr 2nd, 2016, 12:13 PM #1
Here is a fabulous link/calculator that helps you see options to pay off your credit card and how much it will actually be costing you in interest over the interim.
Cheers! MQ
http://itools-ioutils.fcac-acfc.gc.c...CCalc-eng.aspxThis thread is currently associated with: N/A
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Sat, Apr 2nd, 2016, 05:14 PM #2
Brunt's #1 rule of finances....
Don't ever, ever, ever pay interest on a credit card. Seriously, don't do it. Introductory rate, special transfer rate, it does not matter. Never, ever pay. Period.
Hopefully that wasn't too wishy-washy a stand.
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Sat, Apr 2nd, 2016, 05:26 PM #3
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My long time past away mother-in-law had what I think is a very interesting concept for credit cards.
"The only people that can afford to have them are the ones that use them for convenience, NOT FOR NECESSITY"
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Sun, Apr 3rd, 2016, 12:44 AM #4
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The WM cashier asked me this very question last week in an attempt to peddle the WM MC and I hadn't a clue what she meant. There are so many fees regarding cards, it's hard to pinpoint which "cost" it is now: annual fee, interest payments, transfer fees, ....
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Mon, Apr 4th, 2016, 08:18 AM #5
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Mon, Apr 4th, 2016, 11:44 AM #6
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I too have my credit card for the points (plus the rental car insurance coverage). It's paid off every month, don't care what the interest rate is. I wasn't always that sensible though.
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