Myth: A revolving balance on your credit card will help you build credit.
Reality: Oh contraire, never leave a balance if you can pay if off.
Myth: By making the minimum payment you are successfully paying off your debt.
Reality: If you make minimum monthly payments on a $5,000 credit card debt with 15% interest, it will take you 32 years to pay it off. Interest paid: $7,789.46
Posts
No comments:
Post a Comment