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Type in $5,000 for “What is your credit card balance?” Type in $150 for “What fixed payment could you make each month?” Do you think it is better to pay only the minimum payment or pay the higher
monthly amount? Explain why.
Hello If its for a credit card, always pay more than the minimum amount, otherwise you will never decrease your balance, you will just be paying on the interest.
Expert answered|DEANA|Points 96|
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Asked 10/4/2010 7:19:35 PM
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Questions asked by the same visitor
Do you think it is better to pay only the minimum payment or pay the higher monthly amount on your credit card? Explain why.
Weegy: I think its better to pay the higher monthly amount if you can. Paying off your credit cards quicker avoids over excessive interest charges and shows greater responisbility in the eye of your creditors (More)
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Expert Answered
Asked 10/4/2010 7:47:53 PM
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Do you think it is better to pay on your credut card only the minimum payment or pay the higher monthly amount? Explain why.
Weegy: no. because it will just increase your debt. i say go for the higher monthly amount. (More)
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Asked 10/4/2010 7:52:26 PM
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Do you think it is better to pay on our credit card only the minimum payment or pay the higher monthly amount? Explain why.
Weegy: If possible pay out the whole balance to avoid interest. (More)
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Asked 10/4/2010 7:57:47 PM
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Do you think it is better to pay on our credit card only the minimum payment or pay the higher monthly amount? Explain why.
Weegy: Credit card companies charge you a small percentage of your total debt as your monthly minimum payment and most people go along with their plan. (More)
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Asked 10/4/2010 8:04:48 PM
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Do you think it is better to pay on our credit card only the minimum payment or pay the higher monthly amount? Explain why.
Weegy: It depends on how much you can handle at a time, in any given month...If you are on a fixed income, then it's better to pay the minimum, so you don't get into debt by running out of money...If you have better funds, [ then maybe it's ok to pay more...Depends on your financial situation. ] (More)
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Asked 10/4/2010 8:17:50 PM
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