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How do you track cc payoff for a blended rate cc?

post #1 of 2
Thread Starter 

I've been snowballing for a while and use what'sthecost.com, but the numbers are always a bit off. I know that when you are inputting your info there is an option for introductory interest rates that last x number of months...but I have two credit cards that have a portion of the balance at one interest rate, and portions of the balance at other interest rates.

 

So when I input the information, if I'm trying to be anally accurate, should I actually be creating seperate accounts (Discover #1 @19.99%, Discover #2 @16.24%, Discover #3 @ 1.99%) and then have my minimum payment go towards the lowest interest rate and then anything over that go towards the highest interest rate?

 

It doesn't REALLY matter, I realize, but I'm finally making headway on my cc debt and love playing with the numbers....

 

Or maybe there is a spreadsheet out there that tracks better and will do this for me??

post #2 of 2

good for you for paying this off! I think you are right-- just enter in the different ammounts at different interest rates as separate debts.

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