# Your Credit Card Minimum Is Mostly Interest – Pay a Fixed Amount Instead

- Source: Money Crashers
- Published: 2026-10-19T22:30:00+00:00
- Category: Markets
- Original: https://www.moneycrashers.com/credit-card-minimum-payment/
- Canonical: https://groundlevelnews.com/story/your-credit-card-minimum-is-mostly-interest-pay-a-fixed-amount-instead-1f498d/

Take a $5,000 balance at a 24% APR, the card’s yearly interest rate, and the first month’s interest comes to about $100. A minimum of that interest plus 1% of the balance is $150, and only $50 of it goes... Source

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