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How long does it take to pay off credit cards if you continue to pay the minimum balance?
Frankly, if you continue to pay only the minimum balance, you will never be able to end paying off your credit cards. If you pay just the minimum, almost all of your payments only go to the interests and finance charges. If you continue to make purchases, the more you incur interests and finance charges for the unpaid balances. You will not only ruin your score, you will also ruin your finances. Responsible use of credit card is to purchase only what you can pay when your bill comes. Take it from me, I experienced this situation. With my original $1000 balance, my total credit went up to $19,000 because of interests, charges and penalties! How long? Until your limit has been exhausted and you are required to pay for the total amount.
What else can I help you with?
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
What factors may lower your credit score when you have a credit card?
not paying minimum amount duelack of credit historygetting another new credit cardapplying for a loankeeping a high balance on credit cards compared to their credit limitsetc.
What factor may lower your credit score when you have a credit card?
not paying minimum amount duelack of credit historygetting another new credit cardapplying for a loankeeping a high balance on credit cards compared to their credit limitsetc.
What types of cards are offered by Chase?
Chase offers cash back credit cards, rewards credit cards, travel credit cards and Special Balance Transfer Offer Intro APR on Purchases and Balance
What are some credit cards that offer free balance transfers?
There are many credit cards that offer free balance transfers. Credit cards such as the 'Discover it Card' and 'Citi Diamond Preferred card' offer free balance transfers.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
What factors may lower your credit score when you have a credit card?
not paying minimum amount duelack of credit historygetting another new credit cardapplying for a loankeeping a high balance on credit cards compared to their credit limitsetc.
What factor may lower your credit score when you have a credit card?
not paying minimum amount duelack of credit historygetting another new credit cardapplying for a loankeeping a high balance on credit cards compared to their credit limitsetc.
What types of cards are offered by Chase?
Chase offers cash back credit cards, rewards credit cards, travel credit cards and Special Balance Transfer Offer Intro APR on Purchases and Balance
What are some credit cards that offer free balance transfers?
There are many credit cards that offer free balance transfers. Credit cards such as the 'Discover it Card' and 'Citi Diamond Preferred card' offer free balance transfers.
What is the minimum monthly payment on credit cards?
reload credit card
Why it is wise to pay the full balance on credit card?
It is wise to pay the full balance on credit card because you will not entail finance charges and other fees. If you pay only the minimum, your next balance will increase due to the finance charges and fees. At the same time, it can build your credit score. I always pay the full balance on my credit cards.
What is the total amount of credit cards payable listed on the balance sheet?
The total amount of credit cards payable listed on the balance sheet is the sum of all outstanding balances owed on credit cards.
What is a balance transfer with regards to credit cards?
A balance transfer is when an amount owing on one credit card is transferred to another credit card. This is usually done to take advantage of lower interest charges. A credit card company usually specifies a minimum/maximum amount you can transfer.
How can you compare balance transfer credit cards?
You can compare balance transfer credit cards easily and directly on the CreditCards website. The CreditCards website offers a detailed comparison of balance transfer credit cards. The CreditCards website compares balance transfer credit cards such as the Citi Simplicity card, the Citi Diamond Preferred card, the Discover It card, and many more.
Which credit cards have a 0% balance transfer?
Bankrate.com has a good website that shows you best interest rates and best credit cards. Go to the site, then go to credit cards. Then click on best for balance transfers.
How are credit cards reflected on a balance sheet?
Credit cards are reflected on a balance sheet as a liability, representing the amount of money owed to the credit card company. This is shown under the "liabilities" section of the balance sheet.
