Features Of TrackCards
Enter your credit card data – card name, balance, interest rate, minimum payment, and due date – into TrackCards and the tool does several things with the information.
Right at the top of the page, the total amount of debt your debt is displayed. Based solely on the information you enter, TrackCards shows the total amount of money you owe in the current month and the date of your next payment.
The tool shows a pie chart of your credit cards, letting you know the percentage each credit card represents of your total debt. The pie chart easily lets you determine which card accounts for the largest part of your debt.
Using your interest rate and balance information, TrackCards calculates a payoff schedule for your credit cards individually. The schedule shows the monthly payment needed to pay off a particular credit card in 12-month increments up to 72 months.
If you choose to enter payments that you’ve made, TrackCards provides a visual representation of your monthly debt progress.
Making Credit Decisions
If you have trouble remembering to pay your bills on time each month, you can receive email reminders 1, 3, or 7 days before your payments are due. The reminders are optional and can be turned on/off at any time.
One of the major benefits of TrackCards is the compilation of your credit card information. All your data is in a single place enabling easier analysis and decision making. You don’t have to shuffle through several pages of credit card statements trying to figure out how to pay your debts.
Using the payoff schedule feature in TrackCards, you can put together a debt management plan. You are limited by the ability to view a payoff schedule for one credit card at a time rather than all the credit cards. You can easily overcome this constraint by copying the schedule to a spreadsheet or a piece of paper.
A complete recommended payoff schedule for all credit cards based on disposable income would make this tool perfect. The analysis already provided by the tool gives you just enough to take control of your debt. Plus, it’s one of the best tools available to consumers for free.
Since the analysis of the tool is dependent on the data you enter, it’s important that you enter your credit card information as accurately as possible. You don’t have to enter any personal identifying information to use the tool, not your social security number, credit card number, or even your name. All you need is a username, password, and email address.
