Credit cards have high interest rates, which make them one of the most expensive debt we can acquire. And unfortunately many people have fallen into the trap: use your card as an extension of their income, and have been used to pay only the minimum required each month.
However, this fact makes it a serious damage to our Personal Finance. Minimum payment can extend our indebtedness for many years, with a very high cost.
To understand it in a simple way, consider the example of a person...Read more:The Minimum Payment Trap in Credit Cards
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