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Discover Card Interest Rate Calculation

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New Visitor

Discover Card Interest Rate Calculation

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

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Epic Contributor

Re: Discover Card Interest Rate Calculation


@Adrianwarren1 wrote:

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


@Adrianwarren1, 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.

popcorn eating emoticon.gif

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Established Contributor

Re: Discover Card Interest Rate Calculation

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. 



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