A fun place to discuss credit card application
But by making only the minimum payment, most of that bill goes toward interest and not the balance. By regularly paying only the minimum payments each month and continuing to make purchases on those credit cards, a consumer can easily get stuck in a cycle of debt. Credit cards are a very practical and convenient resource, but should not be used to pay for unnecessary things that push consumers beyond their means. Balances should be paid in a timely manner. If you responsibly purchase with and pay off your balances on your credit cards, you will also be able to handle emergency expenses more readily than if you carried balances on your cards.