The true cost of paying the minimum

Posted on October 25, 2007
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Is your money being sucked into a compound interest sinkhole? If you’re not paying off your credit cards every month, that’s just what can happen. It depends on the interest rate charged by the credit card company and whether you pay as much as you can, or just the minimum amount due. You can use this calculator from Bankrate to determine how much money you’re wasting by not paying off your credit card debt as quickly as you can.

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