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First Furry Credit Corp.
17 years ago
Shorter version of my LJ post...
I made up a system of credit that eliminates late fees and other charges. Interest + payment owed is calculated on the date of reciept of payment (schedule a payment for that date to see how much will be owed), based on a daily rate that (if left unpaid for a whole year) compounds to equal the APR.
interest rates are adjusted proportionally to the amount you pay more or less than the minimum due when a payment is made, with overpayment capable of exponentially greater reward vs underpayment penalty.
more details in the Open Office spreadsheet available here: http://blujaguar.googlepages.com/Credit.ods
I made up a system of credit that eliminates late fees and other charges. Interest + payment owed is calculated on the date of reciept of payment (schedule a payment for that date to see how much will be owed), based on a daily rate that (if left unpaid for a whole year) compounds to equal the APR.
interest rates are adjusted proportionally to the amount you pay more or less than the minimum due when a payment is made, with overpayment capable of exponentially greater reward vs underpayment penalty.
more details in the Open Office spreadsheet available here: http://blujaguar.googlepages.com/Credit.ods
