We got our one and only credit card bill today. Mr. Workin' is a money guy and always makes fairly conservative money choices, so I assume that this credit card's interest rate and annual fee and such is the best he could find.
Under the new credit card laws the credit card company must disclose in the statement, if you only pay the minimum payment how long it will take to pay off your balance.
Are you ready...
$2700 = 13 years.
Really? 13 years?!?!?!?!?! I don't really use that card, unless I have run it by the money guy.
I think I will use it even less after THAT little lesson in interest.
Eeshie mama!
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