GuidesDebt1 min
A store card and a bank card
0% complete
This guide
Both are rows. The store card often has the higher rate and the smaller minimum, so it receives less of any shared extra.
Same fields
Balance, yearly rate, and minimum are the whole input. The category in the name list, store or bank, is not used in the formula.
A deferred-interest promotion that becomes a large rate later is not modeled. Type the rate that applies to the balance you are paying now, and change it when the promotion ends.
The share of extra
A $35 store minimum beside a $200 bank minimum receives a small slice of the extra. The store card can remain the costly one. Aim at it by raising its payment if that is the plan.
The dates on the month will show the result of whichever way you type it.
One balance each
Do not split one card into a store row and a bank row. Do not list a store card and the bank card you used to pay it off.
Two real cards are two rows.
This explains how WiseCalculator treats the numbers you type. It is not a lender’s offer and it is not advice for your loan.
More in Debt
- Saving debts on the accountDebt rows stay on the phone. After you sign in, they are kept with the mortgage, the car, and take-home.
- A balance is required before a debt countsThe month, the payoff list, and the “you have numbers” check all ignore a debt until its balance is above zero.
- More than one balance in the same monthEach debt has a name, a balance, a rate, and a minimum payment. The month uses the ones with a balance above zero.