Credit Tip #7
Try to pay more than the minimum amount due each month When paying only the minimum balance due every month, you end up
paying a lot more in the end. For example, let's say you buy a sofa for $1,000 and their is an 18% interest rate. If you only make the minimum payment of 2% (about $20 ) a month, it would take you 7 1/2 years and $800 more to pay of that couch. That's why you always pay more than the minimum or better yet, save up and buy in cash!
