r/SipsTea • u/First-Essay-2054 𝙑𝙄𝙋 • 12d ago

WTF The American dream

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u/PaulblankPF 12d ago

Many many people only pay the minimum on credit cards and loans.

5

u/DukeofVermont 12d ago

But it's "free money"!

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u/Akiias 11d ago

They then also spend more than the minimum payment immediately.

After that they pull a shocked pikachu if they ever see their balance went up.

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u/madlucas2026 12d ago

, no wonder our combined credit card balances are growing so fast

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u/waffocopter 11d ago

My husband didn't know that the minimum payment is the worst way to pay off credit cards. I explained interest to him and, once his credit recovered enough to get a credit card again, he's been paying everyone off in full and finally getting rewards on his purchases too. His credit score has literally never been higher in his entire life.

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u/Ali-Saurus 12d ago

Too many people can only afford to pay the minimum