Compare Apples to Apples

The following charts show you the difference between keeping your credit card debt or switching it to a Member Savings Consolidation Loan. The same balance, the same monthly payment, nothing changes but the savings. Simply switching your credit card debt to a Member Savings consolidation loan can save you hefty interest charges—and shorten the time you spend in debt.

To compare your own credit card debt to our consolidation loan, use "THE DEBT-FREEDOM CALCULATOR". To understand how even $100 can affect your financial position, visit "What is Your Debt-Age?"

Department Store Credit Card vs. Member Savings Consolidation Loan

The comparison chart below shows the difference just switching your Department Store Credit Card debt can mean to your financial position. You can see that just by transferring your debt, not only would you save years off of repayment time, but you would also save a whopping $11,767.90 in interest. Now that is a great reason to switch.

Major Bank Credit Card vs. Member Savings Consolidation Loan

Even if we consider a typical big bank credit card with an interest rate lower than a department store credit card, the savings compared to a Member Savings consolidation loan are still quite substantial.

Interest saved, in the example above, is $6,853.89 to be exact–just for transferring your debt.

* Member Savings interest rate is based on an average rate of 6.00% OAC.

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