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Credit Comparison: 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.

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416-864-2461 or 1-888-560-2218


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.

How to Calculate Your "Debt-Age"

Look for the fine print on your credit card statement that tells you how long it will take you to pay off your balance making just the minimum monthly payment. Adding this to your current age gives you your debt-age. If this shows you’ll be older than dirt before you’re debt-free, don’t fret. We’re here to help.

Small Print On Credit Card Statement

Example, if you are 38, your Debt Age would be:

120 + 38 = 158 years!

Talk to us.

416-864-2461 or 1-888-560-2218

The Impact of $100 on Your Debt-Age

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. Just to show you how quickly credit card debt can snowball, the chart on the left shows the difference that a mere $100 can make.

Compared to spending $500 per month to be debt-free in 4.75 years, paying $100 less per month will almost double your repayment time. That's not great for your debt-age or your wallet, for the amount of interest you incur will be another $16,787.46. This shows why it is best to pay off your credit card debt as quickly as possible.