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. If you checked the 'Use credit card minimum for payments' box, your monthly payment is calculated as 4% of your current outstanding balance.
By understanding how consolidating your debt benefits you, you'll be in a better position to decide if it is the right option for you.
student loan is subject to completion of a loan application/consumer credit agreement, verification of application information, credit qualification, and a benefit to borrower determination.
If your itemized deductions don't exceed your standard deduction, the benefit of deducting the interest on your home will be reduced or eliminated.
For 2017, the standard deductions are $12,700 for married couples filing jointly, $6,350 for married couples filing separately and singles, and $9,350 for heads of household.
When you're choosing the term of a loan, consider the total amount of interest and fees you’ll pay.
A loan with a longer term may have a lower monthly payment, but it can also significantly increase how much you pay over the life of the loan.
This can greatly increase the length of time it takes to pay off your credit cards. This calculator assumes your rate will remain the same for the entire repayment period.
Uncheck this box to enter your own monthly payment that will remain the same until your balance is paid in full. We use this to calculate the interest you will pay on this loan and the number of payments that are remaining. The information shown is designed to provide basic information about mortgage financing.
You should also be aware that the total tax savings may be less for higher incomes that have their allowable itemized deductions phased out.