|
You almost can never pay off credit card debt by paying the minimum due. Seriously, this is a much bigger issue for you than the $10/month checking account service fee. Do not use your credit card until you pay down the balance. CC companies are raising all rates now in advance of sweeping regulation changes that will take place in 2010. Your rate will most likely increase. IF you think 10.9% is difficult now, you may get a terrible surprise shortly. I just saw a news report about an unemployed person who had made every payment but Chase raised his rate to 24.99% No one in their right mind would ever take out a loan at those rates. But people do without knowing by getting in over their heads with credit cards. Good luck.
|