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#credit-cards
credit
to clear $5,000 at the minimum
Why paying the minimum on a credit card takes nineteen years
The minimum payment shrinks as your balance does, which is why a $5,000 balance takes nineteen years to clear. Freezing the payment at today's minimum cuts it to under five.
credit
interchange on every swipe
Why 0% APR credit cards still make money for banks
Banks earn revenue through interchange fees and balance-transfer charges, even when the annual percentage rate is zero for the consumer.