How Paying Your Credit Card Minimum Puts You in a Debt Spiral
by Alicia Adamczyk on Two Cents, shared by Alicia Ada from Lifehacker on (#4B4P3)
If you have a credit card, you should, theoretically, know how missing a payment or paying off less than your total balance each month can lead to a debt spiral. The interest rate on credit cards is very high compared to other financial products, and it compounds when you don't pay your balance off in full each month.