Will you be paying of your Credit Card in 12 Years?

WILL YOU STILL BE PAYING OFF YOUR CREDIT CARD IN 12 YEARS? $50bn + 7.2% 3,282 Aussies owe more That's $3,282 per card at an average interest rate of 17.2%. than $50 billion on their credit cards. HOW LONG WILL IT TAKE YOU TO PAY OFF $3,282 IF YOU'RE MAKING ONLY THE MINIMUM MONTHLY PAYMENT? 12 YEARS $2,575 in Interest Charges PAYING 3% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 PAYING What do you plan to be doing in the year 2025?? Living debt-free or still paying off your credit card? 6% 5 YEARS & 8 MONTHS $959 in Interest Charges The key is to pay down your credit card balances as quickly as possible. Even small extra payments will drastically reduce exposure to time and interest charges. 234325463464353424 MyBudgt. Data Source: Ratecity.com.au