By Frances B. Smith Volume II, No.
Many people have trouble keeping track of their purchases on credit cards.
Sometimes when the bills arrive, they're surprised at what they owe. For some people, that may mean they won't be able to pay off the balance in a reasonable time period, that is, under six months. Others may only be able to afford to pay the minimum payment required on a high balance. But that can lead to future problems. If the amount outstanding is large, the minimum payment may mainly pay the interest and not reduce the balance very much.