Vent: My brother told me to just pay the minimum on my credit cards for a year

He said it would build my credit score faster. I ended up paying $340 extra in interest and my score barely moved. Anyone else get bad financial advice from someone close to you?

3 comments

3 Comments

lily_torres3119h ago

Did your brother also say you'd get a free toaster if you paid the minimum? My cousin once told me I could save money by NOT buying car insurance for a month because no one would notice. I was lucky I didn't get pulled over or crash.

pat_moore17h ago

Yeah paying the minimum is basically just lighting money on fire. Listen to your brother about a lot of things but not this one.

owens.anthony19h ago

My brother told me the same thing a few years back and I ended up paying $400 in interest just like you. I learned the hard way that paying the minimum is basically a trap from the credit card companies, not a shortcut to good credit.