The Credit Cards are double-edged sword, and if there is an “advantage” in them that can quickly become a disadvantage is the minimum payments. Many banks promote their Credit Cards with the advantage that the monthly payments are very small, but these payments can only prolong the credit indefinitely.

The minimum payment is the amount of money you must pay a credit card to avoid creating Surcharges or default interest. In hiring people Credit Cards most end up having to pay a surcharge or additional interest, a sign that not knowing how to use your credit card.

While making the minimum payment can avoid the surcharge, you can extend the loan, which is can pay up to 500% the original value.

Now What should I do? The most important thing is making credits to the cards that actually reduce the debt, if not be able to quickly liquidate the card must begin by paying slightly above the minimum. Here are the most important tips to avoid overpaying:

1. Pay the total debt before the payment deadline.

2. Seize the time between the cutoff date and settlement date, so you have more time to enjoy the credit (up to two months for most cards).

3. Considers that the card is a tool that makes having money, but is never extra money.

If appropriate measures are taken a good card holder may be paying only the annuity of the card during the year.

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