Minimum Repayment (December 2019) – 116 years and 9 months
The month of December 2019 saw the credit card debt get even higher.
Closed the period at $21,788.62.
Minimum repayment for the month was $435.00

If I make the minimum repayment of $435 per month it will take me:
- 116 years and 9 months to pay off the balance
- $124,862.99 in interest charges over the 116 years

Hey but my bank has a cool way for me to reduce interest charges:
- Pay $1,114.17 per month and I will pay it off over 2 years and save $119,911.61 in interest charges
I think I will go with the full repayment this month … and enjoy the interest savings.