Excel Contractual Interest Spreadsheet

[ICY]

Thanks westy i had cut and paste the annual rate from abbeys website, however when i manually enter the rate it does it correctly.

 

Thank again

[Reaver]

Excellent spreasheet Mindazi.

 

Reaver

[progenic7]

Do we have the CC spreadsheet ready yet ?

[LEECHTHEBREACH]

I notice previously that Mindzai agrees adding the monthly interest to the spreadsheet even though there has not been a penalty that month.

I think you can only justify that when your accumulative penalties equal your overdraft figure.

On another note you cannot alter the American way of showing the date

i.e. todays date in English mode is 23-02-07,but on the spreadsheet you have to put it as 07-02-23 otherwise the spreadsheet does not calculate properly,that is the default date......this is important !!!!

[Mindzai]

I notice previously that Mindzai agrees adding the monthly interest to the spreadsheet even though there has not been a penalty that month.

I think you can only justify that when your accumulative penalties equal your overdraft figure.

 

Yes, however the spreadsheet takes this into account for you. The reason you enter interest charged each month is because from the first time you are charged, a portion of your interest may be caused by the charges, even if you were not charged in that month. The spreadsheet takes into account the fact that your charges may or may not exceed your balance/overdraft limit and adjusts accordingly. All you need to do is enter the interest you have been charged each month from the date of your first charge.

 

On another note you cannot alter the American way of showing the date

i.e. todays date in English mode is 23-02-07,but on the spreadsheet you have to put it as 07-02-23 otherwise the spreadsheet does not calculate properly,that is the default date......this is important !!!!

 

No! The spreadsheet will adjust to your computer’s regional settings. If your computer’s region is set to USA then it will deal with dates in the US format. Most people’s will be set to UK, and so it will deal with dates in the English format. I would suggest you check your PCs regional settings and adjust it to UK if you are having problems with dates, because it will be system wide not limited to Excel (or this spreadsheet) so you should probably sort it anyway. It’s under Control Panel.

[Mindzai]

Do we have the CC spreadsheet ready yet ?

 

It is ready, however I'm not happy about making it available yet. It works out the sums as accurately as the existing sheets, but I'm not sure that this is really accurate enough. However making it more accurate is easier said than done because there are so many different rules for the various cards concerning things such as balance transfers, interest rates on purchases vs cash etc.

[LEECHTHEBREACH]

Mindzai,thanks for that.............if you only knew how much head ache that has caused me!!!!!!

On another note i quite liked the old compound sheets you had but the compound monthly sheet clicked out at no. 155 (ie the row) and even if i added more cells it would not go further than that no. even if i altered the iteraration no. which was set at 100 ?

[LEECHTHEBREACH]

Also Mindzai do you think it would be a cheek to add all those monthly account fees of £7.50 they keep charging you for ?

On the account balance column,i like to put a minus figure in red every time i alter the format colour to show this it reverts back to black ?

[crystalcag]

Hi,

At last I've got all the correct details of charges and balances. I've filled out the spreadsheet - total £1,279 charges. Total interest £1,867.03 - so the total including interest is £3,641.19. This seems big - the total is 3 times the original charges. Can someone direct me to a thread that might help me make sense of it all - or even offer to look at my spreadsheet? Really appreciate the help on here - just wish I had time to read EVERYTHING!|!!!! thanks

[LEECHTHEBREACH]

I,ll pm you crystalcag

[maangov]

Afternoon,

 

I'm having a little trouble with my credit card spreadsheet, and i'm not sure if the figures are right!

 

I've been ok previously with a couple of card sheets, but this one seems to have an odd figure in the 'Penalties incurring interest column'. It seems to add up ok all the way until it suddenly takes the balance value, and i'm not sure why!

 

Is anyone willing to take a look please? It does it on vamps online, and also on the library excel spreadsheet.

 

Thanks

[lucid]

Hi maangov,

 

Unfortunately you've asked your question in the wrong thread - this thread is for Mindzai's spreadhseet, not the forum's ones. Try posting your question here in the Spreadsheet with Interest thread. Hopefully somebody will be able to help you - I haven't sued the forum's spreadhseets so unfortunately I can't.

 

Good luck. Lucid

[wilmslow]

Hi there, I have been using excel the spreedsheet to calculate the interest on my bank charges. I have put in the interest amounts and the balance on the date of the charge but it doesnt seem to total up the total interest paid on penalties? it has only total it up on a few where the account balance is in minus figures, please help me thanks in advance

[LEECHTHEBREACH]

Hi,Wilmslow,the interest will only kick in when the account is in -ve.

If at a date when the interest figure of the month is not in the red then put a -ive figure in at sum point in the month where it was in the red,because you want it to kick in every month if possible !!!!!

[isidore]

Hi Mindzai, just subscribing in anticipation of the release of the CC spreadsheet. Am waiting patiently

[Seahorse]

Get to the back of the queue Taff.

[sn00psmum]

Hello Mindzai,

 

I've downloaded your excellent spreadsheet v1.9 and entered the charges. I've got a question regarding the interest side, we were frequently in excess of our overdraft limit when we would have been charged unauth.int. rate (29.8%). Sometimes though we would be within our limit and therefore would have only been charged at the auth. rate of 16.3%.

 

The unauth.rate on RBS w/s is 29.84%, do I put this in or just 29.8%?

 

Is there a calculation to work this out and if so, how do we do it? Am I wandering into far too complicated waters? I have realised that my claim is flawed by the way I initially worked out the interest (duh) and wish to correct it, obviously as accurately as possible.

 

Any help or thoughts on this appreciated!

SM:p

[LEECHTHEBREACH]

Snoop,put in the 29.84% in the APR box in the notes section,click on the monthly box,then scroll down and hit the green side tab at the left bottom,click onto charges and interest,fill them all in then the spreadsheet will automatically work it out for you,bingo its easy as that.

If you pm me with your e-mail address i will send you a copy of how it looks.

Leech

[progenic7]

MINDZAI WHERE ARE YOU ?

I could really use the CC spready right now, i have my prelim written up (7 pages long) and all i need is the charges working out. I would really like to post this on monday..im not bothered if its not 101% accurate 97% will do fine....

 

man i need your help and quick

[lucid]

Hi all,

 

We've been extremely busy lately and have had limited PC access - and Mindzai has been very busy at work. He is going to upload a version of the credit card spreadsheet this evening. It is going to be as accurate at compounding the interest on charegs as his bank charges sheet, but the interest paid on penalties is going to be a bit of a risky area. It's impossible to accommodate every single situation with the credit cards so the sheet is probably not going to estimate the interest paid on penalties so well. So if there is anybody pursuing interest paid on penlaties then please bear in mind that the figures may not be entirely accurate.

 

Lucid

[progenic7]

Cant wait im ready and waiting for this evening

[Mindzai]

Right, the sheet is below:

 

Download v1.0

 

BE WARNED! I have not tested this as much as I would like. The interest paid on interest section is not as accurate as I would like due to the varying ways credit cards work. I will be working on this, but for now its not 100%. It should be as accurate as the existing sheets, but I dont claim it's as accurate as it could or should be. If you are not claiming interest owed on interest, then there should be no problem. The contractual interest on the charges themselves should be as accurate as the bank charges sheet.

 

Feel free to use this sheet, but do so at your own risk! If you do find any problems with it please let me know.

[Seahorse]

WOOHOO!!!! Cheers for that Mindzai.

[progenic7]

thanks man i will get to work as a beta tester

[doo]

progenic7, are you just testing this or are you actually going ahead to use it on a live claim?