<ul><li>By choosing to pay just the minimal amount due on a credit card, you are delaying the remaining balance which incurs high interest rates from credit card firms.</li><li>Paying only the minimum amount due extends the time to pay off the debt and can lead to a financial trap.</li><li>Accumulating debt without repayment can have a cascading effect and make it harder to recover financially.</li><li>Paying only the minimum amount due can adversely affect the credit usage ratio, credit score, and may signal risky financial behavior.</li></ul>

Paying Minimum Amount Due On Credit Card? Here's Why You Should Avoid It

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