Why Minimum Payments Hurt Your Credit Score
Why Minimum Payments Hurt Your Credit Score
Minimum payments keep balances high
Minimum payments keep balances high
High balances raise credit utilization
High balances raise credit utilization
Interest builds faster than you think
Interest builds faster than you think
Scores fall slowly — not instantly
Scores fall slowly — not instantly
Paying slightly more helps a lot
Paying slightly more helps a lot
Lower balances mean stronger credit
Lower balances mean stronger credit