The siren’s song of the minimum payment is hard to resist, and credit card issuers know it. Over the past few decades, major issuers have decreased their minimum payment requirements so much that the minimums hardly make a dent in outstanding balances anymore. That shift means cardholders as a whole are paying more in interest,...
from NerdWallet
https://www.nerdwallet.com/blog/credit-cards/credit-card-minimums-calibrated-keep-you-debt/
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