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Don't guess what
your credit card will cost you -- that's a recipe for disaster. Knowing
what you could owe (or if you have a card exactly what you do owe) is
vital for good credit card management.
You can estimate
what you owe, or use your statement, and our calculator pages let you
work a number of scenarios that will show you what you credit costs you.
YAHOO! FINANCE TIP
Yahoo! Finance has a handy set of
credit calculators
to help you out before you turn in that credit card application.
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Use these calculators
to see how long it will take to pay off your current credit card debt,
or use it to determine how much you would have to pay a month to get rid
of a specific debt in a set number of months.
You can even find
out just how much you are paying (via interest) for the privilege of using
a card.
They are especially
useful BEFORE you get yourself a card. Run a few examples (or genuine
card company offers) through these calculators to get some real numbers.
They will make the final decision much easier to make.
Too many card users
run up debts that are more than they expected -- then get a nasty shock
when they see how long it will take to pay them off.
And of course if
you every consider moving your balance to another card come here first
to make sure it's a good deal.
Another possible
use is to compare the cost of your card against the cost of the perks
you're getting. If you want a card because it offers discounts, estimate
the worth of those discounts and compare them to the cost of this card
over another card with a lower rate or no annual fee.
These calculators
can also help you keep your total credit card debt under control, keep
it at an amount you can pay off without hardship. Come back regularly
so your card debt level doesn't ever surprise you.
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