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The real cost of using credit

Credit cards are great tools for building credit history, earning rewards and paying for sudden emergencies in worst-case scenarios. But the interest rates on credit cards are too high to not pay them down each month.

You really should be paying off as much of your debt as you can. When you make the minimum monthly payment, even a somewhat affordable purchase can spiral out of control and cost you hundreds or thousands of dollars.

The Real Damage can tell you exactly how much your credit card debt will end up costing you. It will help you visualize the consequences of credit misuse.

Just input the price of an item you might buy, the APR, balance and minimum payment of your credit card. The Real Damage will calculate the price after interest accrual. Prepare to be shocked!


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