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Contributor
Does any one know how to finish paying of the credit card when I'm paying the minimum of $150 and I'm getting charge $86 a month for not finishing paying of the thousands that I owe at once? And yes i havent used my credit card. Don't get usaa credit card huge mistake.

3 REPLIES

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DearGeorgesG86,

If you send us a message here, we can connect you to a bank specialist who can help you work out a plan to pay your credit card off.

Thank you for posting.
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George, 

The money added onto your balance each month is the interest that is charged by USAA for the credit that has been extended to you. That is how credit cards work. The only way the balance will be paid off quickly and with less charges is to pay more than the minimum balance each month.

 

Here is a good article about the costs associated with only making the minimum payment: http://credit.about.com/od/usingcreditcards/qt/minimumonly.htm

 

I would reach out to a financial advisor at USAA (or any other certificed financial advisor). They can help you figure out a good monthly payment that you can manage, which will hopefully reduce the interest you pay over the lifetime of the balance.

 

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http://www.calcxml.com/calculators/how-long-will-it-take-to-pay-off-my-credit-card Also, to really understand how credit payments work, some calculators come with a booklet that shows you the math. Understanding the actual formulas (don't be scared) will make a huge difference over a lifetime.