• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

Fun New Tool Lets You Calculate Your Eternal Indebtedness

Here’s a good game for a rainy Sunday.

Several credit card companies have launched a new Website designed to help struggling card users manage their debts amid the economic downturn. The site includes tips to avoid penalties and links to access counseling services. But the fan favorite has to be an interactive tool allowing consumers to calculate the minimum installment required to pay off balances within a given time frame. It’s worth a whirl.

For example, a customer wanting to pay off a card balance of $8,329 — the average credit card debt per U.S. household last year, according to The Nilson Report — at an interest rate of, say, 15 percent within five years would learn that the monthly payment would be $198. If the same customer could afford only $120 each month, she would learn that it would take 161 months to pay down the same balance. Etc. It’s an instant lesson in precisely how long you’ll be tethered to that flat-screen purchase.

The Website arrives as Congress is poised to pass legislation to protect consumers from some of the most commonly abusive tactics used by card companies, such as hiking interest rates on existing balances and advertising “fixed-for-life” rates that are anything but. The companies’ new PR campaign, it seems, is designed to lend a sense that the industry also has the interest of consumers at heart.

Funny, then, that these are the same companies that have fought to water down the consumer protections currently flying through Congress. Funny too that they’re also the same companies that lobbied successfully to delay the implementation of those congressional reforms for at least nine months. Now they’ve launched a tool to “educate customers struggling to make their credit card payments” after they just fought to preserve the right to hike rates on those same customers retroactively?

In light of those efforts, their shiny new Web tool suddenly takes on a duller hue.

Discussion & Comments (0)

    Recent Articles

    • Things You Should Know about North America

      Things You Should Know about North America

      Get to know more about North America.

    • Eurovision 2010 Paula Seling Unpredictable Contest

      Eurovision 2010 Paula Seling Unpredictable Contest

      Paula Seling's experience on the Eurovision stage led her to declare that "Eurovision is an unpredictable contest". Which may explain the success of the young Lena from Germany, about whom the predictions before the event did not offer much chances for victory.

    • VIPRow.me - The Best Sports Streaming Website Today

      VIPRow.me - The Best Sports Streaming Website Today

      Have you ever contemplated creating a user-friendly site dedicated to sports-related free live streaming channels?

    • Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      XNXUBD 2022 Nvidia users are able to watch thousands of videos and other contents online. XNXUBD 2022 Nvidia New is a piece of software that enables people to watch videos online without having to pay for memberships. On a graphics card, the XNXubd also provides some of the best gaming and virtual reality experiences.

    • Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      A new edition of the Video Editor Apk for xVideostudio.Video Studio has all the latest features, including support for multiple video download formats in HD, FHD, and even 4K resolutions.

    • 9 Best Lotion For Masturbation - Popular Choice For 2022

      9 Best Lotion For Masturbation - Popular Choice For 2022

      Masturbation is a common activity for men and women. It's a natural and risk-free way to explore your body, experience pleasure, and release sexual tension.

    • Reasons Why You Need To Stop Watching Movies From Sflix

      Reasons Why You Need To Stop Watching Movies From Sflix

      Without having to sign up or pay anything, you can watch movies online for free with SFlix. It has more than 10,000 movies and television shows.

    • Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Collins (born May 11, 1997) is a rapper from the United States. Leray started publishing songs to SoundCloud in 2014, and in 2018 she released her breakthrough track "Huddy" as well as her first mixtape, Everythingcoz.

    • Listen And Download Music On MyFreeMP3 For Free

      Listen And Download Music On MyFreeMP3 For Free

      Are you in a bind and looking for a place to obtain free mp3 songs? Never again will you need to bother, since this article has everything necessary to obtain your solution. Download free music from MyfreeMP3.com, one of the world's most popular websites.