Should I pay only the minimum on credit cards?
Quick Answer
No — minimums are designed to keep you in debt for decades. A $5,000 balance at 22% APR with 2% minimums takes 28 years and costs ~$13,000 to pay off. Pay in full each month or as much as you can.
Warren Team
Updated February 2, 2026
34
Warren Team
Updated February 2, 2026
34
Important Disclaimer:
The information provided is for educational purposes only and should not be considered as personalized financial advice. Warren is a registered investment advisor. Past performance does not guarantee future results. Please consult with a qualified financial advisor before making investment decisions.
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