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thepaulse
Why is the interest on my credit card more than the minimum due?!?
I just took a look at my last credit card statement and the interest was near $300, while the minimum due was $280. Is that legal to charge more interest than what the minimum due is? If I made JUST the minimum payment, the card would never get paid off but rather have a LARGER balance each month... FYI I don't pay just the minimum... I'm just curious if this is even legal or allowed. I just bought a home, so as soon as I get my big fat $8,000 tax credit I'm paying off the card. WOOHOO!
3 AnswersCredit1 decade ago