Paying the minimum balance on your credit card could send your interest payments off the charts!
With a $13,000 balance on your credit card that has 14% interest rate, it could take you nearly 13 years to pay it off and you could spend more than your original balance in interest alone by paying just the monthly minimum. Simply by increasing your payment by a few dollars and making biweekly payments, you can reduce your interest and payoff your loan in just over 2 years!
Credit cards are a popular addition to the AutoPayPlus service by our customers because they can synchronize these payments with their auto, mortgage, or student loan they already have enrolled. Paying them all from one place on an automated payment cycle takes the worry out of your hands.
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The biweekly payment strategy is just one payment option available to you through USEA. The sooner you start, the sooner you will achieve that financial independence you have been dreaming about. Call us today at (800) 894-5000.