Dr Jan’s Tips From The Top

I’ve had a Mint credit card for sometime now, but I haven’t used it until recently.

I paid the deposit for our wedding with it, and looking at this month’s statement I’m shocked and surprised!

The balance bought forward is 1,802.17. The minimum payment from last month was 40.00. The interest this month is 47.10 and the payment protection this month is 15.01.

So the current balance is 1,824.28.

I have not used the card at all last month, but the balance is increasing! So if I only ever pay the minimum amount I will get further and further in debt every month, and I will never pay off the balance.

It seems monumentally irresponsible of Mint to set the minimum payment to be less that the monthly charges.

This entry was posted on Thursday, November 8th, 2007 @ 00:17 on the category money.You can follow any responses to this entry through the RSS 2.0 You can leave a response, or trackback from your own site.