| "The majority of credit card companies charge consumers anywhere from 1.9% interest to 29.9% interest. The reality is if you carry a balance of $10000.00 or more at 9% interest or higher and pay the minimum payment each month it will take you between 30 and 38 years to pay the credit card off. Over the course of 30 years, on a credit card that has a balance of $10,000.00 with an interest rate of 29%, instead of paying back $10,000.00, you actually pay back a monthly payment of $214.57, which after 30 years would be $77245.20! This means that you paid back $67245.20 in just interest alone! Imagine what you could do with $67245.20?! This is also a good example of showing you what SAVING $214.57 a month for the next 30 years can do for you!" |