Tag: debt payoff myths

Why old-school “minimum payments only” is dying as a payoff strategy

For decades, the “minimum payment” approach has been sold as a safety net. Pay the minimum, avoid penalties, keep your credit intact. But here’s the reality: minimum payments are a trap, not a solution. With average credit card APRs between 18–29%, minimums barely dent the principal. A $10,000 balance with a 20% APR can take […]

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