What is the mathematically terrifying reality of only paying the minimum due on your credit card statement?

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Economy

Credit card companies actively refer to customers who pay off their balances in full every month as 'deadbeats' because they don't generate any revenue from exorbitant interest rates.

Credit card companies actively refer to customers who pay off their balances in full every month as 'deadbeats' because they don't generate any revenue from…

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Economy

Japan possesses the highest national public debt in the developed world, routinely hovering around two hundred and sixty percent of their entire gross domestic product.

Japan possesses the highest national public debt in the developed world, routinely hovering around two hundred and sixty percent of their entire gross…

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Economy

North Korea literally ordered one thousand luxury Volvo sedans from Sweden in the 1970s and then just completely ghosted them on the invoice after the cars were successfully delivered.

North Korea literally ordered one thousand luxury Volvo sedans from Sweden in the 1970s and then just completely ghosted them on the invoice after the cars…

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Economy

Thomas Jefferson died deep in debt

He may have written the Declaration of Independence, but he couldn't balance a checkbook. He lived so far beyond his means, importing expensive French wines…

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Economy

Issuing government bonds is borrowing from grandchildren

Nothing screams fiscal responsibility like forcing future generations to foot your current grocery bill. Treasuries issue formal IOUs to fund immediate…

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Economy

The credit-card experiment that dropped 60,000 cards

In 1958, Bank of America basically air-dropped 60,000 live, pre-approved credit cards into Fresno, California, just to see what would happen. The 'Fresno…

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What is the mathematically terrifying reality of only paying the minimum due on your credit card statement?

A bigger world.One discoveryat a time.

Keep exploring

Credit card companies actively refer to customers who pay off their balances in full every month as 'deadbeats' because they don't generate any revenue from exorbitant interest rates.

Japan possesses the highest national public debt in the developed world, routinely hovering around two hundred and sixty percent of their entire gross domestic product.

North Korea literally ordered one thousand luxury Volvo sedans from Sweden in the 1970s and then just completely ghosted them on the invoice after the cars were successfully delivered.

Thomas Jefferson died deep in debt

Issuing government bonds is borrowing from grandchildren

The credit-card experiment that dropped 60,000 cards

A bigger world.
One discovery
at a time.