Paying only the minimum amount due on a credit card results in a repayment period lasting many months or years, with the majority of payments applied to interest rather than the principal debt.

Authors

• Person: Not available Organization: EBSCO
  Understanding Debt | Business and Management | Research Starters

Sources

• Understanding Debt | Business and Management | Research Starters www.ebsco.com EBSCO via serper

Referenced by nodes (1)

• credit card concept