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August 2019

7 things the credit card companies don't want you to know.

7 Things the Credit Card Companies Don’t Want You To Know

By | Consumer Knowledge, Credit Cards, Credit Reporting, Interest Rates, Rebuilding Credit | No Comments

Your minimum payment is meant to keep you in debt. A minimum payment is generally calculated as 2-3% of your balance, or 1% of your balance plus interest and fees. This minimum payment is specifically calculated to maximize the amount of interest you pay, and the length of your repayment. Keep in mind, the interest you pay is profit for…

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