Showerthought: Paying the minimum on my credit card for 5 years was a dumb move
Honestly, I used to think as long as I paid something every month I was doing fine. I had this card with a $2,000 limit that I maxed out back in 2020 and I just threw $50 at it each month. Then last week I looked at the statement and saw I had paid almost $1,200 in interest over that time and still owed $1,800. That moment when I did the math on the APR hit me hard. Has anyone else been stuck in that minimum payment loop and finally broke out?