Do you know what the true cost of carrying a credit card balance is? Credit card costs can easily make small purchases turn into larger purchases and large purchases turn into enormous purchases. How? Simply by carrying a balance and not paying off your credit card balance every month your credit card interest charges can cause your real cost of credit to skyrocket.
We always advocate using credit responsibly and disciplining yourself to pay off your credit card balances in full each month because the goal of any smart credit card user should be to make credit cards work for you and not against you.
Our recently released cash back credit card calculator demonstrates the quite significant amount of potential cash back savings that one can earn by using a cash back credit card but in order to really hit home the fact that all of those cash rewards are next to meaningless when one doesn’t pay off their credit card balances in full each month we have just released a new tool called the lifetime credit card cost calculator.
The lifetime credit card cost calculator lets you choose your credit card interest rate and the number of months that you plan on taking before you pay off the card balance and then the tool will instantly update the pricing for the various items in the tool and show you the real cost of those items over the course of paying off the credit card balance associated with those items.
Before you get the urge to run up a huge credit card balance and cost yourself a ton of money in interest charges then check out our free lifetime credit card cost calculator so that it can remind you to always pay off your card balances in full each month and find a great credit card that can earn you rewards, points, or cash back and help you financially rather than harm you financially!
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