Originally Posted by Martian

Minimum payments are often as low as 1% of the balance. You're paying $650 in interest per year, and if your minimum payment is 1% of the balance each month you're paying a grand total of $720, meaning that of your minimum payments a meager $70 per year (around $6 per month) is going to the actual balance. If you don't start making bigger payments, you'll be carrying that balance for the rest of your life.

Originally Posted by Craven Morehead

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.