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Home Education Bad Financial Habits: #2 Paying minimum balance on credit card

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Bad Financial Habits: #2 Paying minimum balance on credit card

Bad Financial Habits: #2 Paying minimum balance on credit card

Saturday, April 15, 2017, 12:15 PM

Paying the minimum balance on your credit card, leads you to the money trap. You are saved from paying any late payment fees. But paying the minimum amount due, does not save you from paying interest, on the unpaid amounts on your credit card. The interest on the outstanding dues on your credit card can be as high as 2% to 3% a month.
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