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Pay Off Your Credit Card in Three Years – Your Statement Shows the Payment

Source: Money Crashers · Oct 18, 2026 14:00 UTC

Rolls of U.S. dimes and nickels in paper coin wrappers — File photo dmuth / Flickr · CC BY-SA 2.0 · Source

The Quick Take

On a $5,000 balance at a 22% interest rate, the box would show that paying only the minimum takes about 19 years and costs about $13,100 in total, $8,100 of it interest. We assumed a minimum of 1% of the... Source

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