8 Replies to “How To Off-set Interest Costs | Velocity Banking”

  1. So is the best time to make a chunk payment right before I get paid? (using a loc) or when I've already gotten paid? Then I'd immediately dump that paycheck into the loc?

  2. So are you saying that while the daily interest on the LOC accrues, since you are putting your paycheck in every week or so and taking out money for expenses weekly , you actually never pay the accrued monthly interest cost ( so your cash flow offsets that total monthly LOC payment). or are you saying that $45 in interest for that month should be added to your monthly expenses?

  3. This is the clearest explanation I've found regarding what concerns me most about Velocity Banking, offsetting interest costs when you borrow from a LOC to pay an amortized loan. Thanks so very much! By the way I submitted a form the other day. I'd be very glad to hear from you.

  4. So given your example, how much was the total interest in the 10 months of paying the L.O.C. in the first year? I'm asking to determine if a $5,000 balance transfer with a promo offer of 0% for 12 months with a 3% – 5% transfer fee might be the cheaper option.

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