Thought I would bring this thread back up because it could really help alot of us out right about now.

Hello everyone.

The rate has been adjusted, and the calculations should now be correct. I am going to have this featured on the main credit card page for now.

Sure, I just won't be able to tell you who I work for or give specific bank information

We would never ask you for something like that, that is worse than giving out your personal id or ssn. As soon as I have any questions, I will be right on this thread. Thanks Paula.

Sure, I just won't be able to tell you who I work for or give specific bank information but if you have any questions regarding credit cards and equity loans then I can help you.

Got you down to the "T" now Paula. That was my fault for not clearly understanding what you were trying to say, and I do apologize.
Yes it does make more since because when I tested it out myself, I was thinking exactly the same thing you were. After seeing all those cards that popped up, I was like, "Cool idea, but I hope that individuals of all credit status does not go out and try to apply for those cards becasue of the results." Thanks for clarifying your statement. I really appreciate it. Oh, by the way, I am so glad to have another individual here that works for a financial institution, do you mind if I send you messages on the board or through your message box when I (or someone else) have questions?

Great idea Paula,

I actually have another nice feature coming out this month. It will allow you to select the things to show that are inportant to you, i.e. show grace period, apr, annual fee, fico. Don't show rewards. This will take care of allot of issues.

Thanks!

Meya,
I believe you missed my point or misunderstand my suggestion or maybe I wasn’t clear enough. I understand the concept of using the Savings Calculator and what its main purpose is and I understand that a credit score isn’t the only factor that is looked at to determine whether or not I’m approved for a credit card but it is the primary factor. (I work for a financial institution) My proposed suggestion was to alleviate the need of using two different tools to locate the appropriate card to transfer my balances. For example: If you carry a credit card with a 16% interest rate the calculator will pull a large listing of cards from its database with rates that are lower than 16%. I would then have to page through all the cards to see which one I would mostly likely qualify for. From there I would then pull up the Credit Score match tool and input my credit score and get a list of cards that are within range of my credit score. I would then go back to the Savings Calculator to see if that listing of cards matches up to the Credit Score listing. It makes more sense to me to include the credit score match to help simplify the process and not because someone has poor credit.

One suggestion that I would like to make is adding the credit score match to the savings calculator this will help to eliminate the cards that I don't qualify for.

Hi Paula, I think you would probably want to use the score matcher from the hompage because I don't think that scores would be included into the new tool that is comming soon. The savings would not be in the approvals, it would be in the calculation of your balances and current apr's, and to show better cards you might want to consider looking for using a balance transfer. Scores are not the only thing creditors are looking at. There are many other factors like income, bills to credit, limits from other cards, co's, bk's, judgments, inquiries, utilizations, and many othe factors. For instance, my sister just recevied a credit card with scores in the high 400's to low 500's, I have scores nearly 100 points over hers and was declined. Scores are just a figure of where FICO says you stand in chances of lenders offers (vise versa), and gives you an idea of what cards to/not to apply for. I have a list of some that you may want to loo at in the Nice cards to apply for (under poor credit category), see if those may be of any use for you.

One suggestion that I would like to make is adding the credit score match to the savings calculator this will help to eliminate the cards that I don't qualify for.

Thanks Meya, you are always to kind!

The program can be found at https://www.financeglobe.com/Finance/btcalc/
I will add links to this tool from the main credit cards page, resources, and maybe the "tools" section if it gets attention.

I am having a problem the way it calculates the final payment, but the savings it shows is actually a little lower than it should be. I should have a fix for this later this week.

I am keeping this in Beta at least until early October. Any suggestions would be appreciated!

Thanks

You are a "genious". I love this feature and I can't wait till it starts. I swear Fg, you are thinking and comming up with cool ideas. Seems like when you get boared, you start thinking again...lol. To have something no one else has is outstanding.

Here's a first peak of a new site feature:

A really cool savings calculator will be released tomorrow that connects to our database of over 550 cards. This tool allows the user to input the total balance, the interest rate and monthly payment on a current card. The program finds cards that have balance transfer offers, looks at the intro APR and standard APR and goes to work.

Walla, hundreds of cards are returned (10 per page), showing the total savings that can be made if you switched. It's really quite intriguing to see what you might pay in interest every year, and if anything is a good tool to motivate you to pay off or down a balance!

As far as we know, this is the only service of its kind. I will update you on the website address tomorrow.