If you find yourself in the situation that you are unable to pay your credit card debt balance off each month then there are steps you can take to reduce your interest charges.
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Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
Credit cards – pay more than the minimum 25 January 2010
Paying the minimum monthly repayments of two per cent on a credit card debt of $10,000 will mean that the cardholder will take 62 years to pay off the debt and pay more than $32,000 in interest repayments.By adding $50 to those monthly repayments will cut the time and interest repayments dramatically. The debt will be repaid in five years and four months.Low interest or zero interest balance transfer offers can only work for indebted cardholders if they are disciplined and dont use the new card for spending as well.
