The Jump Start DifferenceWe've designed our line of credit with parents and children in mind.
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Calculate how much KidVantage can lower your monthly payment!
* Calculator provides an estimation only, assumes a promotion of no interest for the first 6 months with an interest rate thereafter of 6.9%, and assumes full utilization of your credit line over the designated months of use for the KidVantage loan product. Your interest rate will depend on credit.
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The costs of using a credit card to pay for child careUsing a credit card to pay for child care can lead to a large amount of debt and interest paid over time. Credit cards typically offer a low minimum monthly payment (typically 3% of the balance or $30, whichever is greater), which make it tempting to pay only as much as you have to.*
*Example credit card APR of 21.90% is taken from within the range of APRs described on Credit.com, for people with good credit. |
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Paying for child care with a Jump Start line of creditYou can choose to set your minimum monthly payment as low as 40% of tuition so you can fit it in your budget while avoiding the amount of interest paid using a credit card with a minimum payment. Plus, Jump Start reserves your credit line for only child care expenses, so it will be there when you need it.
If you can afford to pay more than the minimum payment, you can save even more interest. Jump Start has no pre-payment penalty, so use only as much of the credit line as you need. Jump Start can be the insurance policy you need to help through life events like job loss, divorce, or unexpected expenses. All while keeping your child care intact.
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OUR FINANCIAL CALCULATORS are for informational purposes only and are not intended to provide financial advice. All examples are hypothetical and for illustrative purposes. Although we have obtained content from sources deemed to be reliable, we are not responsible for any content provided by unaffiliated third parties. You may wish to consult an appropriate outside advisor about your financial situation.