💳 The Credit Card Trap

Credit card companies WANT you to make only the minimum payment. Here's the math on why.

You owe ($)

Interest rate (APR %)

Most US credit cards charge 20-29% APR in 2026.

How will you pay it off?

😱 Minimum payment only

(~2% of balance each month — what the card "suggests")

$5,200

over 30 years

😐 $50 / month fixed

A small amount but more than the minimum

$3,400

68 months

🙂 $200 / month fixed

A bigger chunk — pay it off faster

$2,500

13 months

💪 Pay it off in full

Best strategy: never carry a balance

$2,000

$0 in interest

Minimum payments will cost you...

$3,200

in EXTRA money you didn't have to pay. That's why it's a trap.

FROM THE GROWN-UP WHO BUILT THIS I had credit cards. I carried balances. I wish I hadn't. Hate credit cards. If you absolutely must use one, pay it off IN FULL every single month. If you can't pay it in full, you can't afford it — save up and pay cash instead. The credit card industry makes its profits from people stuck on minimum payments. Don't fund their yacht.