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Step 1: Choose a Purchase
New Phone
$1,000
Laptop
$2,500
Furniture
$5,000
TYPICAL BANK CARD
•••• •••• •••• 4242
This is a typical credit card APR. Some cards charge even more—up to 29.99%!
Step 2: Choose Your Payment Strategy
Purchase Amount
$1,000
APR
24.99%
Monthly Rate
2.08%
Min Payment
$25
How much will you pay each month?
The Truth About Your Phone
Time to Pay Off
0 months
Start
0 years
Original Purchase
$1,000
Interest Paid
$0
TOTAL PAID
$0
THE CREDIT CARD TRAP
Your $1,000 phone actually cost you...
$1,500
That's 50% MORE than the sticker price!
| Payment Strategy | Monthly Payment | Time to Pay Off | Total Interest | Total Cost |
|---|
💡 The Lesson
Credit cards charge interest on your remaining balance EVERY MONTH. When you only pay the minimum, most of your payment goes to interest—barely touching the principal. The bank loves this. You shouldn't.
