Cash or Credit helps you calculate the real interest rate attached to a credit card purchase or loan. Instead of looking only at the stated rate, you can enter relevant financial details and include additional charges that affect the total cost, such as taxes, insurance, and other applicable fees.

Calculating the effective cost

The app is designed for situations where the advertised interest rate does not show the full amount you will pay. For a purchase made through credit card installments, it can use information from the credit card statement to calculate the related surcharge and present the resulting real interest rate. The same purpose applies when reviewing loan details, allowing the costs connected with the borrowing arrangement to be considered together.

Using credit card statement details

To review a credit card transaction, enter the necessary figures from the statement into Cash or Credit. The app processes those details and calculates the surcharge associated with the purchase. This gives you a clearer view of how fees and other added costs affect the rate you are paying, rather than leaving the calculation to manual arithmetic.

Reviewing financial choices

Cash or Credit can be used when comparing a new credit card offer, examining an installment purchase, or considering different loan options. By showing the real interest rate and the true cost represented by the entered information, it provides a basis for understanding the financial effect of each option.

The app accounts for listed additions such as taxes and insurance along with other applicable charges supplied in the calculation. Its role is to organize these figures into a clearer interest-rate and cost assessment, helping you examine the terms of a purchase or loan before making a financial decision.