The projections and guidance from HelloWallet are wildly off because of the way it handles APR on credit cards. Two of my accounts have promotional rates on some or all of the balance. I can set the APR to 0.0% for the one where I will pay it off using the monthly payment, but it keeps resetting to 29.99% (what I would pay if I didn't pay it off in the allotted time) every time the account refreshes. I have a balance transfer rate for some of my balance on another card, and the regular rate on the remaining balance. These have very real impacts on the order and strategy for a "snowball" paydown, but HelloWallet is recommending (wrongly) based on the single APR and this is also skewing all future forecasts. We should be getting sound advice on this paydown strategy, not generic incorrect advice.
For security reasons, we can’t address user-specific accounts in this forum, however, generally speaking, it is likely that if it’s changing back when it refreshes, your bank is providing the higher APR to our aggregation software, because it doesn’t track the promotional rate. However, we can look more closely into specifics if you reach out to Support@HelloWallet.com
This question has received the maximum number of answers.