A typical United States consumer will likely pay $279,002 in interest on credit purchases over the course of their life.
The Lifetime Cost of Debt Calculator shows how credit scores impact how much debt will cost you over your lifetime. Please click on age to change it and choose your current credit score range.
Based on a 30-year fixed rate loan at 4.5%.
Based on a new/used car purchased every 64 months at 6.075%.
Based on an interest rate of 22% and a 3 year payoff with a $300 monthly payment.
Please click on each of the above values to change them.
(Mortgage, Auto Loan, Credit Cards)
Click on the credit score line (above the titles, Good, Exceptional, etc.) to see how a different credit score affects your lifetime cost of debt.
Contact Howard Cutler at Perfect Credit Consulting, LLC for the ANSWERS!
"Lifetime Cost of Debt," 2015, Credit.com