Abberly Green Apartments

117 Abberly Green Boulevard, Mooresville, NC 28117
Call: 855-390-6443 Email UsAbberlyGreen010@myLTSMail.com View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

Apartments Mooresville NC Blog

Paying Interest to get a Discount

Joseph Coupal - Friday, April 30, 2010

Many of us receive coupons in the mail to our favorite store which gives us a 15% or 20% discount on purchases in a given time period. While it may be very tempting to run right out to the store to get a “deal” on the latest style, gadget, etc., there are a few questions that you should ask yourself.

  1. How much do I want this item?
  2. Do I have cash to pay for the item(s) and
  3. If I put this on my credit card, how much will I pay in interest to get this “deal”.

For example, a new laptop retails at XYZ store for $1250. You purchase this laptop at XYZ store using your 20% coupon and charge the purchase on your credit card. The discounted price is $1000 and you are feeling pretty wonderful about the deal on your laptop. If you just make the minimum payment on your credit card with an interest rate of 18%, you will end up paying $923.12 in interest over 113 months (9.4 years). In this example, the total to purchase this laptop was actually $1923.12 which is definitely NOT a “deal”!

Knowledge is power and it is so important that you make informed decisions when making a purchase, especially when purchasing with a credit card. Check out this online credit card interest calculator!

By Jennifer Moran


Abberly Green Apartments

117 Abberly Green Boulevard, Mooresville, NC 28117

Call: 855-390-6443
Email UsAbberlyGreen010@myLTSMail.com
View Map

Opens: Monday-Friday: 9A-6P | Saturday: 10A-5P | Sunday: 1P-5P

$839-$1,239