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

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10-05-2020
Business

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

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lemuskim07 lemuskim07 · Answer 1 · 2020-05-10T01:25:56+02:00

lemuskim07 lemuskim07

10-05-2020

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.

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