Calculating The Reals Costs of Credit Card Debt
Hanging on to large amounts of credit card debt will cost you a lot over the long run. While you might feel bad not paying it down more than you do month to month, the credit card companies like nothing more than having you just make the minimum payment.
While in the short-term your borrowing costs might not seem like that much, once you see what it costs you in the long-term you may be surprised. Use this handy debt calculator to calculate how much your credit cards will cost you over the long-term.
Many people are shocked when they see the true cost of carrying their credit card debts. If you're one of those people, then perhaps it's time to consider a debt consolidation, debt negotiation, or credit counseling program.
