your money being sucked into a compound interest sinkhole?
If you're not paying off your credit cards every month,
that's just what can happen. It depends on the interest
rate charged by the credit card company and whether you
pay as much as you can, or just the minimum amount due.
minimum payment on credit card debt is calculated as a percentage
of your current balance. The minimum payment drops as your
balance is paid, but thanks to the magic of compounding,
you'll end up paying for a long, long time.
out how much interest you'll shell out over the life of
the debt by using our calculator. Enter the information
below to see the difference in time and money your payment