Minimum Repayment (April 2020) – 83 years and 2 months
The month of April 2020 was frugal when it came to bashing the credit card.
Closed the period at $6,685.41.
Minimum repayment for the month was $134.00
If I make the minimum repayment of $134 per month it will take me:
- 83 years and 2 months to pay off the balance
- $36,710.16 in interest charges over the 83 years
Hey but my bank has a smart suggestion for me to reduce interest charges:
- Pay $341.86 per month and I will pay it off over 2 years and save $35,191.02 in interest charges
Again pay the full balance off before the due date.
