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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: CC's And The Great White Shark Date:  6/16/1998  4:25 PM
Author:  PSUEngineerFool Number:  2427 of 312185

here's a thought: Pay off the balance except for that last $1.00 every month. The interest rate will still be high, but you'll only be paying a couple of cents/month in interest. Let's see what they'll do with that one.

This won't work. They use average daily balances to compute the finance charge. You would have to charge everything on the last day of the balance period to keep interest down.
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