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Please help MSE test new tool: What's the APR Calculator?
Former_MSE_Dan
Posts: 1,593 Forumite
in Credit cards
Hi folks,
We've been working on a new calculator to go into the Cheap Credit Card Loans article. I'm sure lots of MoneySavers on the credit cards board (and beyond) know how this works - using Super Balance Transfers to get cheaper loans from credit cards than you could on normal personal loans - but if not please take a read of the article first:
http://www.moneysavingexpert.com/loans/plastic-loans
From next week, we are going to put a calculator into the article to help people work out their own equivalent APR's by using this plastic loans method. Please give it a test if you have a spare five mins and let us know what you think:
http://www.moneysavingexpert.com/cards/6172607844,53354
If you spot errors, that's brilliant - thats what we need
If they are design or layout errors, please let us know what internet browser and operating system you are using (eg. Internet Explorer and Windows 7)
Cheers folks!
We've been working on a new calculator to go into the Cheap Credit Card Loans article. I'm sure lots of MoneySavers on the credit cards board (and beyond) know how this works - using Super Balance Transfers to get cheaper loans from credit cards than you could on normal personal loans - but if not please take a read of the article first:
http://www.moneysavingexpert.com/loans/plastic-loans
From next week, we are going to put a calculator into the article to help people work out their own equivalent APR's by using this plastic loans method. Please give it a test if you have a spare five mins and let us know what you think:
http://www.moneysavingexpert.com/cards/6172607844,53354
If you spot errors, that's brilliant - thats what we need
If they are design or layout errors, please let us know what internet browser and operating system you are using (eg. Internet Explorer and Windows 7)Cheers folks!
Former MSE team member
0
Comments
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Not really an error - but after the "Length Of 0% Deal" text box it may be worth putting "months" there (I assumed it was months!)
I am using Google Chrome on Windows XP.0 -
Done that was on the to-do list but good spot! Former MSE team member0
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Great tool Dan and team!:beer:Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0
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It doesn't like decimals in the BT fee - tried it with 2.9 and it objected. Integer values are fine, but no reals. Full list of current BT fees - sort the table by BT fee for examples http://www.stoozing.com/0fees.php"A child of five could understand this. Fetch me a child of five." - Groucho Marx0
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It's also allowing negative numbers for the fees and BT rates. Arithmetically it'll give the answer based on the inputs, but not sure if you want to validate that further - suppose could be feasible if you get a 0% purchase card that also gives cashback "A child of five could understand this. Fetch me a child of five." - Groucho Marx0
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I agree with CannyJock, does not take decimals on BT fee0
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nice idea but ...
i noticed that virgin and mbna are options where all other cards have to be entered manually. smacks a little of advertising?
now i realise these are recommended via the article so this may be why you have them as specific options ?
more importantly, isn't virgin being recommended because of its ability to do balance transfers ? this is not accounted for in the calulations though? can this be added ?0 -
Hi swingofthings
We've pre-programmed these cards are they are currently the best ones to do super balance transfers with, in terms of longest 0% or lowest life of balance ratesmore importantly, isn't virgin being recommended because of its ability to do balance transfers ? this is not accounted for in the calulations though? can this be added ?
I don't quite understand this bit, could you explain further?Former MSE team member0 -
Hi dan ...
I think I confused myself in my comment ... what I think I was trying to say is that from the calculator itself I was not clear that the virgin rate was 4% ... I know it is mentioned in the article but it's not in the calculator. But in some respect it is a moot point I guess because the resultant APR is the important percentage to consider ...
What happens when the virgin card is not the best card - does the calculator get updated appropriately?
Something else I just noticed ... if you put that you are borrowing 100 pounds and the monthly repayment is 100 pounds it states that I will repay it in the "13 month" with a -0.7 APR ... it looks like anything where monthly_repayment * 12 < borrowing_Amount goes a bit funny ...
Can you put a check in that the amount you are borrowing is NOT smaller then your monthly payment and make sure the calculations work properly?
I know you can tell i work with computers ... 0 -
swingofthings wrote: »What happens when the virgin card is not the best card - does the calculator get updated appropriately?
That's the plan, but the calc will be dated so people know when it was last changedswingofthings wrote: »Something else I just noticed ... if you put that you are borrowing 100 pounds and the monthly repayment is 100 pounds it states that I will repay it in the "13 month" with a -0.7 APR ... it looks like anything where monthly_repayment * 12 < borrowing_Amount goes a bit funny ...
Can you put a check in that the amount you are borrowing is NOT smaller then your monthly payment and make sure the calculations work properly?
That's great thanks - we'll need to put some code in to catch those onesFormer MSE team member0
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