132k views
4 votes
Paying only the minimum balance on your credit card
can lead to

2 Answers

5 votes

Answer: paying more interest

Step-by-step explanation:

User Usher
by
6.6k points
6 votes

Answer:That's because a lot of cards come with high interest rates. Paying only the minimum will cause you to pay more in interest and extend the term of your debt, according to Bruce McClary at National Federation for Credit Counseling (NFCC).

Step-by-step explanation:

User Ferry
by
6.3k points