Don’t Just Pay Your Minimum Credit Card Balance Monthly
When you’re living paycheck to paycheck, it can be tough to pay more on your credit card debt than the minimum payment. However, the numbers show that even if you can only afford to pay a few dollars more each month, you will drastically reduce your debt. Here is some advice on what to do.
Paying only the minimum means you’ll pay more in the long run. If, for example, you have a balance of ,000 and you pay 10% of that balance each month, in three years you’ll have paid off your balance and 9.31 in additional interest, assuming…
Credit Card Advice | CreditCardAdvice.com
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