Re: balance transfer

From: Christopher Kulp <kulpcm@home.com>
Subject: Re: balance transfer
Date: Tue, 13 Oct 1998 21:20:21 -0500

Next Article (by Subject): First Australia Prime Income Fund? "Charles A. Wilmot"
Previous Article (by Subject): Asset Allocation David Martin
Articles sorted by: [Date] [Author] [Subject]

Isn't interest calculated differently on credit cards?  I seem to
remember reading something about that somewhere....  Can anyone
correct or educate me?

THanks,
Chris

> Date: Wed, 7 Oct 1998 16:26:31 -0700
> From: "sreeni tellakula" <sreeni@isi.com>
> Subject: balance transfer
> 
> Hi
> 
> I keep getting offers from credit cards at 3.9%
> to 4.9%APR.
> 
> I have an auto loan at 7.75%.
> 
> If I transfter this loan to the credit card, will I save?
> Can some one tell me how credit cards compute interest?
> 
> For ex: the auto loan - the interest is calculated as follows:
> 
> balance: 10000, 1 month time, APR 7.75%
> 
> Interest at end of month  10000 X 7.75 / (100 X 12)                          
> $64.58.
> 
> 
> Thank You
> - - ---
> Sreeni Tellakula
> sreeni@isi.com
> 

 -----------------------------------------------------------------
| Christopher M. Kulp         | Motorola CIG - Computer Engineer  |
| email: QA3056@email.mot.com | (v) 847.632.3874 (fax) 632.3733   |
- ------------------------------------------------------------------



- -

Go to Jeff Salisbury LWGate Home Page.