What is the problem with paying only your minimum credit balance each month?

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asked Apr 1, 2021 19.0k views

1 Answer

Srikar Uppu · Answer 1 · 2021-04-06T16:18:43+0000

While it's important to make at least the minimum payment, it's not ideal to carry a balance from month to month, because you'll rack up interest charges (unless you're benefiting from an intro 0% APR) and risk falling into debt.

What is the problem with paying only your minimum credit balance each month?

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