Minimum Repayment (January 2020) – 105 years and 7 months
The month of January 2020 saw a significant reduction in credit card debt.
Closed the period at $14,705.81.
Minimum repayment for the month was $279.00
If I make the minimum repayment of $279 per month it will take me:
- 105 years and 7 months to pay off the balance
- $83,521.19 in interest charges over the 105 years
Hey but my bank has a cool way for me to reduce interest charges:
- Pay $751.98 per month and I will pay it off over 2 years and save $80,179.36 in interest charges
Paid that full balance off and avoided all the future interest charges.
