topic Discover Card Interest Rate Calculation in General Credit Topics

Discover Card Interest Rate Calculation

Anonymous — Fri, 15 May 2020 14:05:17 GMT

With a $15,000 balance and 5.99% interest. Home much interest will I be charged monthly based on these numbers?

M_Smart007 — Fri, 15 May 2020 15:27:08 GMT

@Anonymous wrote:
With a $15,000 balance and 5.99% interest. Home much interest will I be charged monthly based on these numbers?

@Anonymous, Hi and Welcome to the forums.

IMHO .. Too much interest .. while at a good rate, try to call Discover and see if you can get it lowered?

or possibly see if you can get a 0% promotional balance transfer card.

Anonymous — Sat, 16 May 2020 12:37:58 GMT

Roughly $75 a month, but first month wont be exact 30 days in billing cycle

and future months will go down depending on how large the payment is to lower the balance.

While 6% is too much for anyone that has 0% and other options, overall it is not worse case scenario.

However, explore your options currently, and also constantly.