Quote:
Originally Posted by vtec to vvel
On a side note, people should be feeling the effects of increase rates starting now. I look at my credit card statements and see that:
1. minimum payments have increased
2. more of the payments are going towards interest
As I mentioned before, now is not a good time to be going into unnecessary debt.
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last year was the first year in a looooong time i actually paid interest on my credit card.. and boy did that suck, my minimum payment was $177.
mind you, i had bought myself, my girlfriend, my parents and her parents a cruise to the carribean so my credit card ballooned up a lot. In the end I still paid it off within a year's time.