- Centurion Member
- Posts: 103
- Joined: Wed Apr 16, 2008 2:07 pm
- Location: Big Island, Hawaii
13% is still insanity. The difference between paying interest on that and paying interest on 5.99% like you said is way over double the amount each month. I had a balance for a while on a card at 15% interest and then a balance of the same amount coincidentally on another card. My interest I was paying on the 15% worked out to be 4 times the amount even though it was only double the APR as the other card. I guess the reason is since the way it's calculated, 15% ends up being a helluva lot more than 15% since that interest also earns interest over the payment period.