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Pay $200.00 per month on the Acme card, and keep on paying the minimum payment on the other one.
Pay the minimum payment on all debts except for the one with the lowest balance.
Instead, she recommends listing all of your debt, starting with the one with the lowest balance, then paying the minimum payment on the rest.
Nearly one in five has been unable to make the minimum payment on their credit card in the past year.
But there also are some troubling signs, including the Federal Reserve's survey results showing that of those Americans who carried a balance from one month to the next, more than half made only the minimum payment on their accounts.
"Start making the minimum payment on everything," she said.
Similar(25)
It may help to focus on paying down one account at a time while maintaining on-time, minimum payments on all the others.
We complain about bankers' bonuses, while making minimum payments on a 17% APR credit card.
another problem, he says, is that people make minimum payments on credit cards and fool themselves that they are coping.
The job paid enough for me to make minimum payments on my debts and cover my exorbitant living expenses.
Mr. Howard said he had been able to make only the minimum payments on his three credit card bills lately.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com