It is good financial planning to pay only the minimum credit card payment and thus maintain a balance since interest rates are low on credit cards.

Name: It is good financial planning to pay only the minimum credit card payment and thus maintain a balance since interest rates are low on credit cards.
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Question

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Credit card interest rates are typically high, making it costly to maintain a balance. Paying more than the minimum can save money on interest and help reduce debt faster.

It Is Good Financial Planning to Pay Only the Minimum