43% of Americans carry a balance on their credit card.
One in 6 families with credit cards pays only the minimum due every month.
With a minimum monthly payment of only 2% required on a card balance of $10,000 at 18% it would take 58 years to pay off the entire amount, with the cardholder paying $28,931 in interest. By paying a minimum monthly payment of 4% a cardholder would pay the same $10,000 off in 15 years and pay only $5,916 in interest.

Today, Dawnette and I paid off our 2 credit cards. NO MORE CREDIT CARD DEBT! YIPEEE! Yeah, it took a while and we learned some things the hard way, but we rejoice today as we are one step closer to being debt free.

peace.
johno~