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Tag archive for ‘amortization’

Minimum payments on my credit cards are OK, right?

by John C. Colwell on 12/07/09 | 2 Comment(s)

Well, if you are a banker, they are great! Consider though, that paying minimum payments and being satisfied with that staus quo, is precisely where the banks want you to be, stuck. Stuck, and stuck good. Take a look at the following figures, you may find them surprising. I find them SHOCKING! $1000 balance, 18% [...]

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