Credit Card Amortization

I need something for credit cards, where I can see when it will payoff by paying the minimum balance and if I add additional principle when it will payoff.

Not a table, but this should give you a rough idea:

2009-02-16 21:04:49 by shawn1974m

Are you facing a tough financial time? Has an emergency come up? Do you require cash for it? Is your bad credit stopping you from going to the ...

Rite Aid is selling these cards, but they seem very expensive to me.

Here is a breakdown of the monthly cost for the first year:

Fee: $4.95, Monthly Participation fee
Interest: $1.98, $200 balance maintained @ 11.9% APR
Annual Fee: $5.83, 12-month amortization of $70
Activation Fee: $1.66, 12-month amortization of $19.95

Monthly Total: $14.43, Monthly cost of $200 credit
Annual Total: $173.15, Annual cost of $200 credit

Effective Annual Rate: 87%, Rate paid on $200 credit

Granted these cards are aimed at people with no credit history, but these costs seem excessive to me. Even if you pay your balance in full every month, the annual cost of the card is still very high.

I'm interested in opinions; is there any circumstance where this is worth it? Thanks.

No, lol, Discover will accept almost anyone (albiet with a paltry line of credit) and they have none of those fees... Your interest rate may be higher with many cards on paper but as you put it you end up paying much more in the long run.

2007-08-10 09:20:18 by Apesbrain

Price: $2.99 $2.99

Manage mortgage loans, auto loans, credit card debt and more
Compute full amortization schedule for credit card debts and loans
Determine impact of making extra loan payments, which can dramatically reduce the cost of loan

It's been reported that the middle class debt is now greater than it's income. There's one huge factor to this, lack of financial education. Is there some kind of group of people who are trying to get financial ed into public school systems? It really should be taught at last through highschool.

Look at "the american dream" of owning and house and car. Well I don't remember hearing anything about that stuff in school. Financing, credit cards, amortization. How many people out there know that if you have payed your 30 year fixed rate mortgage for 10 years you've only paid a small portion of the loan amount off. So unless you are going to be paying on it for the full 30 years, just do interest only.

I'm sure there are some rich old farts preventing it, but I think if enough people pushed for it, the school system might actually be worth going through to some degree.
Just calculated it, at 10 years you would have payed off about 17%.

That's a sexy question! Yes it should be taught in schools because a lot of young adults find themselves having 3-5 credit cards thinking it's "free money". College is where all the problems start when they turn 18. Thrift and financial stability should also be a job requirement because it plays into a person sense of responsibility...and a nifty weeding out process. I mean this is something that it is in dire need to be taught, these children's parents who are middle class made a mistake and is spoils into the kids future where debt is a way of life. This in turn can affect the overall economy when banks cannot led anymore since back and interest rates are low so pumping money into the economy is not the best thing. In a sense saving will cause a recession but it will be better off in the long run. Interest rates to pay back is murder making it harder for people to pay back and not invest and put it into saving causing them more danger when they are no longer able to work and social security is gone.

They have to as a duty to the generation of kids who grow up financially illiterate.

2007-05-07 16:22:10 by B Dorian

Price: $0.99 $0.99

Calculate simple and compound interest
Enter the principal amount, interest rate, and length for any loan
View amortization for personal, auto, and mortgage loans

how do i transfer my mortgages (or should i call it amortization?)?.. what i mean is, is it possible to pay my debts from outside the Middle East if i got my card from there? please help.

Contact the companies you owe money to and ask them what methods of payment they have so you can make your payments to them.

You cannot transfer any debts to somewhere else. You would have to apply for credit elsewhere to pay off the existing ones.

2008-06-29 05:04:50 by asiania88

I am looking for a website that allows you to enter loan information or credit card debt information, for example, you enter date, amount of loan, payment you will be making and the calculator does the rest, it will tell you interest you owe and the exact date it will be paid off. Interest.com used to have this table and has either done away with it or I am not able to find it anymore. If anyone has any ideas, let me know.

Try this one: http://www.bankrate.com/brm/calculators/ calc_index.asp

If you hit a dead link, try www.bankrate.com and click from there. \\Go luck

2007-05-11 08:35:31 by Tinkerbell