WalletHub has added a useful debt payoff tool

[Anonymous]

So I opened the WalletHub app to double check my inquiries to see who Alliant pulled and I accidentally hit the debt section, which is new, and I decided to take a look around. It's actually pretty cool. It has a tool that walks you through setting up a pay down schedule. It asks you which cards you PIF and then it asks you the APR you are paying on your other cards (and has a check box for intro APR and you just plug in that, how many months are left, and the regular APR), then you tell it how much you can pay and it sets you up with the debt avalanche method. 

Its totally intuitive and takes just a few minutes and you have a payment schedule setup. 

Here's what I set up playing with it. 

Now I won't be using this schedule because I want to show NFCU some consistent payment history and toss them a couple bucks and I have made my own schedule but this tool can come in handy for many who struggle with making these schedules. Since it's WalletHub and they monitor your credit, it's likely safe to assume that they will automatically update your progress as you pay it down too.  

[Anonymous]

Edit: Oh yeah, it's been there for awhile now. I think since their last update?

[Anonymous]

It's the first time I've seen it but I honestly just hop on to monitor my TU report every so many days. It's a pretty neat feature though. 

[CreditInspired]

This is pretty cool Saeren. Thanks so much for sharing. 

[Anonymous]

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@CreditInspired wrote:

This is pretty cool Saeren. Thanks so much for sharing. 

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It's pretty nifty. 

I like WalletHub because you get daily TU report updates. Used it for well over a year now. 

[Anonymous]

Yes it’s cool but I don’t think it’s new.

[Anonymous]

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@Anonymous wrote:
Yes it’s cool but I don’t think it’s new.

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4 months old according to the version history. First time I noticed it. Regardless it wasn't posted here before so 🤷‍♂️

[Anonymous]

I was actually playing with it the other day changing the name to my cards to put in APRs.

[Anonymous]

I like that it updates your balances for you automatically and updates the payment schedule accordingly. For people that aren't terribly disciplined and/or organized, an automatic tool like this is certainly handy.