Honest Finance's video: Paying the Minimum on Your Credit Cards What Happens

What happens when you pay the minimum payment on your credit cards? Watch more credit card videos: https://www.youtube.com/watch?v=_HfXfKLYV68&list=PLOmIpJDqCR-LRMsepGvSHI6nP1vi9h9wH If you decide to pay the minimum payment due on your credit card, there are a few problems regarding interest and when you'll pay it all off that you need to consider. It's not the end of the world if you make minimum payments, but it's not something you should do unless you have no other choice. Paying the minimum will avoid late payments and bad reporting on your credit score, but you'll be wasting so much money on interest if you choose the minimum path. ► Subscribe: https://www.youtube.com/c/HonestFinance?sub_confirmation=1 ► Watch My Latest Videos: https://www.youtube.com/c/HonestFinance/videos ► Follow Me On Instagram: https://www.instagram.com/honestfinance/ ► Try Audible and Get 2 Free Books: https://amzn.to/2O9mMUI ► Get 1 Free Stock on WeBull (Up to $1,600 with $100 Deposit): http://bit.ly/Webull_HF ► M1 Finance (perfect for IRA's): http://bit.ly/M1_Fin_HF Advertiser Disclosure: Honest Finance participates in affiliate sales networks and may receive compensation by clicking through the links (at no cost to you). This compensation may impact how and where links appear in this description. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. --------------- Honest Finance covers a broad range of financial topics that'll give your life and finances more value. Consider subscribing to Honest Finance for more related videos: https://www.youtube.com/c/HonestFinance?sub_confirmation=1 I'll give you the honest truth about a variety of financial and life improvement topics in a way that actually makes sense. I'm not a financial adviser, so take my advice for entertainment purposes only and seek professional help when needed. I simply want to share my financial opinion with anyone who will listen.