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The following video answers this question by revealing the sad fact that if you make a minimum payment of $225 a month it will take 71 months or almost six years to pay off your credit card debt. And the interest alone will cost you $5,887 for a total payback of $15,887.
Why this happens
If you’re struggling with credit card debt there is help out there. Check out the best ways to reduce your debt at www.nationaldebtrelief.com.