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How To Avoid Credit Card Disaster
With credit card balances of $10,000 or $20,000 or more, at 20% and 30% interest, you will find yourself paying monthly payments of $500 or more in interest expense alone, never making the balance of the credit card
debt decrease, adding even more defeat and pain to the cycle.
This “negative amortization” as its addressed - that’s when you start paying interest on the interest you already owed as
you didn’t make a big enough payment to cut the balance - will
mostly be against the law due to recent regulations set in place over the last few years. This is precisely why you should pay off high-interest credit card debt.
Credit Card Catastrophe Avoidance
Everything You Need To Know About Managing Credit
Better
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