I used to think paying the minimum on my card was fine until I saw my friend's statement

My buddy in Chicago showed me his credit card bill from Capital One. He paid only the minimum for about 8 months on a $1,500 balance. The statement showed he'd paid over $200 in interest already and the balance had barely moved. Seeing those real numbers made me set up auto-pay for the full amount. How do you guys avoid the minimum payment trap?

3 comments

3 Comments

evahenderson21d ago

Ever set a calendar alert? I do that for payday to manually pay my full balance before it's due.

aaron_adams21d ago

Automate that payment and save yourself the monthly hassle, lol.

terry83521d ago

Saw a thing about autopay causing overdrafts sometimes.