I owe 23,000 in credit cards at at 18% how much a year in financ charges at at 5% for 23,000?

Answer 1

Go to : http://www.credit-card-gallery.com/calculator/ and solve your all credit card calculation problems.

Answer 2

Your question is not a complete thought. Therefore we are ALL guessing what you meant to ask.
$23,000 x 18% = $4,140.
$23,000 x 5% = $1,150
Savings = $2,900.

These figures assume no monthly payments. Actual savings depends on the size of your payments. In any case, as long as your spending is under control and you will not recreate the credit card debt, reducing your rate can only help.

Answer 3

Don't even think about it - do it.
There are issues about a credit card you don't even want to hear. A fixed loan beats it every time. And at 5% today it is a steal. Even is that is an equity line. If it is a refi mortgage it is a different story. It still beats 18% any day.

NOW, most people, when they go one of there routes don't take the lesson. Many people who refi to get out of credit card debt are back looking for more within 3 years.

To relieve the pain you must stop hitting your head on the wall. Get the picture? If not, wait till the pain gets unbearable. Of course, it may be too late to do anything at that point.

Answer 4

is your rate 18 or 5? 5 is fantastic...if 18, then take out a heloc at around 8% and you can deduct the interest...as long as you own a home

Answer 5

http://ray.met.fsu.edu/~bret/amortize.html

This is a link to an amortization calculator that is helpful for that. I assume you want to take out a personal loan in order to pay them off. With this you can figure how much you can pay or how long it will take, etc.

Answer 6

That depends on how much of a monthly payment you are making.