How much it Costs on Credit Card if You Just Pay Minimum Balance?

Buying on credit card is only good till the time you are paying your full amount by the due date as anything beyond that means that you are paying phenomenal high amount. Have

a look at screenshot to understand the difference of buying on cash and buying on credit card.

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The cost of only paying the minimum balance on a credit card can vary depending on the terms of the card and the amount of the balance. Generally, if you only pay the minimum balance on a credit card, you will be charged interest on the remaining balance. The interest rate can vary depending on the card and the creditworthiness of the borrower. Additionally, some cards may have fees for not paying the full balance. It is best to check with your bank or credit card issuer for specific information about the costs associated with only paying the minimum balance.

It is important to mention that paying only the minimum balance will not help you to reduce your credit card debt, it will only make it grow as the interest is accumulated over time.