Minimum credit card payment?

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megan93 17 Rep. elliemartin1 edited question

Is it best for me to pay the minimum amount off my credit card every month or should I potentially struggle by paying a little bit more?

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Radhika 155 Rep. Radhika answered

In the short run, paying off the minimum is a tempting option however by doing so you leave most of the amount unpaid over time which incurs interest. By paying more than the minimum you save on interest in the long run and hence save money!

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