| Bank |
Min % of Balance - Payment |
Consolidated Interest Rate |
| First USA* (Chase) |
2% (No longer offers hardship) |
6% |
| Citibank* |
2.3% |
9.9% |
| Chase* |
2% |
6% |
| Fleet* |
2% |
9.99% |
| Discover |
2.2% |
From 0% to 17.9% depending on individual circumstances. |
| MBNA |
1.75 or 2% for the lines of credit |
0% - 15.9% depending on individual circumstances.(consumer friendly) |
| Bank of America* |
2% |
Now under MBNA guidelines 0 - 15.9% (consumer friendly) |
| Wachovia now 1st USA* |
2% |
6% |
| Providian |
2.15% |
10% |
| First Union now MBNA |
2% |
0% to 15.9% depending on individual circumstances. |
| Wells Fargo* |
2.25% |
7.4% |
| Direct Merchants (HSBC) |
2.25% |
9% |
| Capital One |
2.8% |
15.9% or will leave at same rate if lower |
| First Bankcard |
2% |
8% |
| American Express
|
2.2% |
9.9% (Very Complicated Not Consumer Friendly May Be Best Left Out In Some Cases) |
| Next Card |
2% |
12.8% |
| GM Card
|
2.25% |
9.9% |
| Associates |
2.3% |
9.9% |
| FNANB |
3% and must be current |
10% |
| FCNB |
3% |
8% |
| Peoples Bank |
2% |
9.9% |
| Key Bank |
2% |
12.9% |
| Household |
2.25% |
9% |
Before and After Analysis
First Account, Citibank Visa
|
Account: Citibank |
Current Balance: $10,000 |
|
Current Interest Rate: 24% |
Current Monthly Payments: $212 |
At your current rate, you will pay off this credit card in..
137 months (11.42 years),
paying a total of
$18934.72 in interest.
Reducing your interest rate to9.9%
You could pay off your account in only 60 months
and save $16,267.59 in interest.
Payoff Time
| 24% |
 |
137 Months |
| 9.9% |
 |
60 Months |
Total Interest Paid
| 24% |
|
$18934.72 |
| 9.9% |
 |
$2667.13 |
Second Account, Chase Visa
|
Account: Chase |
Current Balance: $15,000 |
|
Current Interest Rate: 23.99% |
Current Monthly Payments: $300 |
At your current rate, you will pay off this credit card in..
219 months(18.25 years),
paying a total of
$ 50465.76 in interest.
Reducing your interest rate to 7 %
You could pay off your account in only 58 months
and save $ 48199.63 in interest.
Payoff Time
| 23.99% |
|
219 Months |
| 6% |
 |
58 Months |
Total Interest Paid
| 23.99% |
|
$50465.76 |
| 6% |
 |
$2,266.13 |
As you can see by these results just 2 accounts with a
total of $25,000 would result in a total interest savings of $67134.35. The Citibank account payoff
time was reduced from 137 to 60 months. The Chase account payoff time was reduced from 219
to 58 months. Keep in mind that you could make larger payments and get this paid much sooner. Call Accelerated Debt Consolidation, Inc. toll free at
(800) 810-5250 between 9:00 AM and 5:30 PM Eastern Time or fill out our
Free Quote form and one of our
consultants will analyze your debt problem and show you how much we can save you in
interest and payoff time.
