credit card company Tag

02 Aug Top Ten Personal Finance Mistakes – Part 4

Do not pay only the minimum payments on your credit card each month. When you pay only the minimum, the credit card companies maximize the amount of interest they earn on your debt. Credit card companies make a tremendous amount of money each month on the minimum payments. They can change the price you pay after you've made your purchase. See Credit Card Issuers come under fire. They want you to stay in debt and making that minimum payments each month. Despite whast they say, you can have too much debt. To calculate your debt to income ratio, check out the Wall Street Journals spreadsheet. The secret to success is to pay off your credit cards in full each month. Never charge more than you can pay in cash when the bill comes in.
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