Real cost of credit cards

Understanding credit cards and their interest rates

What do credit cards really cost?

Credit cards have become practically indispensable today. Used with discipline, they are a positive payment tool for daily shopping, making larger purchases, accumulating reward points and even building a credit history. However, inappropriate use of credit cards can lead to harmful impacts on your personal credit. By being well-informed about how they work, you can take advantage of this payment method without suffering the consequences.

The credit card trap and debt.

Several factors lead to the overuse of credit cards, creating an impact on financial health. Often a source of debt problems, credit cards can generate a variety of financial problems for their users. Here are some examples:

  • Credit cards are easy to acquire, leading to a high ratio of cards per person.
  • They lead to consumerism, which contributes to debt.
  • Interest rates charged by credit cards are some of the highest of all credit products on the market.
  • The practice of minimum payments extends the reimbursement period and increases interest charges paid.

Interest calculator for your credit card debt

Your Information

Credit card information


Option A: If you only make the minimum payment each month


et *


Option B: If you pay a fixed amount each month



Option A

Option B


How to avoid credit card traps

  • 1

    Pay off the full balance owed. If this isn’t possible, always make the minimum payment.

  • 2

    Prioritize payments to the credit card with the highest interest rate.

  • 3

    Be aware of the balance owed and interest charges.

  • 4

    Limit the number of credit cards.

  • 5

    Pay cash as much as possible in order to limit the use of credit cards.

  • 6

    Consult a professional to develop a reimbursement strategy that meets your budget.

Why pay attention to credit card interest rates?

If you have several credit cards and you don’t pay off your balance each month, your purchases may be more expensive than you anticipated. Accumulating interest charges may increase the balance and your debt level.

You can figure out the amount a purchase will cost you if you only make the minimum payment on your credit cards. In just a few seconds, our interest calculator will show you the real cost of your purchases.

How to pay off your credit cards?

If the amount to pay on your credit cards is bothering you, we would be happy to help you and reassure you. Since there is a solution to all financial problems, our role consists of finding the one that suits you in order to implement it and free you of your debts.

Other credit card impacts

  • The total balance of your credit cards is taken into account when you request a loan from a financial institution or other lenders.
  • Poor use of credit cards could have an impact on your credit report.
  • The credit company could require total reimbursement of your debt at any time. While such measures are rarely taken, they are still possible.


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