Three things the statement
will never tell you.
01
The minimum due is not a repayment plan. Five percent goes out, four percent comes back as interest and GST. The balance barely moves. It is priced to keep the loan alive, not to close it.
02
Revolving kills the interest-free period. The 45 day grace exists only for people who pay in full. Once you carry a balance, every new swipe bills from day one.
03
A SIP next to card debt is negative math. The SIP hopes for 12. The card charges 42. Clearing the card first is the one return you can lock in by simply paying a bill.
A credit card is not expensive. A revolved credit card is the most expensive loan an ordinary person can take. Pay it in full or do not swipe it.
Money math in plain language. 11 learning paths, 70 modules, each with its own calculator.
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