Credit cards for bad credit insights
You pay the bank more and more in interest payments the longer you maintain that balance. The larger your payments, the less money you pay in interest. The bank makes less money off you, as you pay less interest on lower and lower balances. If you use many credit cards currently, try to merge the balances of several cards onto the credit card with the lowest interest rate. If you have already reached your limit on the card with the lowest interest rate, you might consider what financial experts call "snowballing.