Sentence examples for minimum payments are from inspiring English sources

Based on a 17percentt interest rate, if only minimum payments are made on a $3,155 bill, it would take 33.5 years and cost $6,823 in interest, according to Myvesta.org.org

If your minimum payments are less than 20% (say they tally $300 but 20% of your take-home is $600), you'll be able to put more than the minimum toward your debt each month.

One of the worst myths surrounding credit cards is that minimum payments are designed to help consumers.

Low minimum payments aren't a trap per se, says Rod Griffin, director of public education at Experian, one of the three major credit bureaus.

Know if minimum payments are due during the promotion period.

These disclosures outline the time frame it would take to pay off account balances if only minimum payments are made.

The insistence on minimum payments is a variation on this theme.

But people who opted for minimum payments were underpaying the interest due and adding to their principal, eventually causing loan payments to balloon.

The upshot for consumers, especially those who can make only minimum payments, is that it's still hard to get rid of their most expensive debt.

New credit-card legislation requiring that monthly statements make clear the long-term cost to cardholders of making only minimum payments is another.

Mr. Gordon said that some minimum payments were so low that they barely kept up with interest costs or fell behind them, in which case the balance could never be repaid.