No. of Recommendations: 0
<<There is no crossover point as the post seems to imply. Paying the same amount to both loans will
*always* result in the lower interest rate loan being paid off first. This may not hold true for some
payment amounts if one loan is compounded monthly and the other daily. I haven't run the numbers
(monthly v. daily), so I'm not 100% positive about that.>>

Good morning, Kaiti! Can you tell my fingers weren't obeying me too well when I posted my numbers?

And the crossover was not intentionally implied - I just thought the comparison might be of interest. I'd run the daily numbers on the credit card, but, alas, I just don't have the time at the moment. Anyone else care to take a shot at it?

Jdei orboting topys
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.