Cash The Checks

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Credit Cards – Minimum Payments
Dec 05 2008 Credit Cards 2 comments

If you place a charge of $5,000 on your credit card and only make the minimum payment each month, the chart above shows you how long it will take you to finally pay it off and how much interest you’ll end up paying.

Comments

angie on 07/08/09

When will people realize that they are fooling themselves into paying 2-3 times as much for items when using credit and not paying the balance in full.

ted on 07/08/09

The rule of thumb is not to charge anything on your card you can’t pay off by the time your bill is due. You have the grace period from the time you make your purchase to pay it off before you get charge the finance fee.


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