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Credit Card Statements

June 19th, 2013 at 02:18 pm

I don't particularly look at my credit card statements, because I download everything. So basically, I find statements to be rather useless in this day and age, and for my own purposes.

So these newer disclosures kind of trip me up when I see them:



O.M.G. The balance on this card was about $1,425. (Minimum payment of $25?)



Well, at least my month of Target groceries could be paid off in 5 months. Doesn't sound so bad in comparison.

I tried to look at my CU Visa credit card and I could not access them. I wonder if I have *ever* looked at them???

For reference, I have always carried credit cards for rewards and convenience. I have never in my life charged a penny that I didn't already have the cash to cover. So, these balances are all paid off each and every month. The idea of taking 12 years to pay off one month of expenses makes my skin crawl.

5 Responses to “Credit Card Statements”

  1. creditcardfree Says:
    1371654877

    I agree! I remember when these disclosures first came out, my friend was actually thrilled to see the math and see when she would be done paying on the card. She didn't care a whip about the interest she was paying. I think she was still using the card...thus the date wasn't going to stay the same! My hope is that some people actually see that disclosure and it motivates them to stop using the card and pay MORE than the minimum.

  2. MonkeyMama Says:
    1371657739

    @Chy - O.M.G. !!!

  3. Xtreme Thunder Says:
    1371663306

    I just got my card statement recently as well and only had a $25 balance and the minimum due was $10 and total payoff time was 3 months paying just the minimum!

  4. Elle Says:
    1371696038

    I've never looked at these before (also pay off cards each month) but next month I'm going to!

  5. FrugalTexan75 Says:
    1372278340

    I look at my online statements from time to time just to see what the current interest rate is, and have seen those disclosures. It's pretty scary to think how long it could take to pay small amounts off with just minimum payments.

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