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Reasons Why You Should STOP Paying Just The Minimum

To understand the reason behind why finance gurus dissuade you against paying just the minimum amount required by your credit card firm, let’s take into consideration the drawbacks of having balance from one month to the next. Here are the TOP REASONS! For more information read http://www.newhorizon.org/credit-info/paying-on-your-credit-cards<br><br>Looking for unsecured credit card for bad credit? Check our reviews here http://www.newhorizon.org/Info/unsecured.htm<br>

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Reasons Why You Should STOP Paying Just The Minimum

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  1. Why You Should STOP Paying Just The Minimum by: www.newhorizon.org

  2. To understand the reason behind why finance gurus dissuade you against paying just the minimum amount required by your credit card firm, let’s take into consideration the drawbacks of having balance from one month to the next. Here are the TOP REASONS!

  3. To prevent making huge payments on interest. Are you aware that paying only the minimum amount required by your credit card company can in fact spend you a lot of money, over time? That’s because your monthly payments will be used to settle first the interest billed on your account, prior to your real charge card purchases. Therefore, if you will pay out just the minimum amount due; you might turn out making huge payments on interest, which will match the money you could have used for more significant personal or household expenses.

  4. To prevent causing harm to your credit history. Though card providers may motivate consumers, like you, to carry balance from one month to another, such choice can backfire on you. That’s because your payment transactions will certainly get reported to the 3 major credit agencies. And submitting of partial payments can damage your credit rating and impact your odds of being approved for inexpensive credit programs, in the coming months.

  5. FOR MORE INFORMATION READ http://www.newhorizon.org/credit-info/paying-on-your-credit-cards LOOKING FOR UNSECURED CREDIT CARD FOR BAD CREDIT? http://www.newhorizon.org/Info/unsecured.htm

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