# 47 years to pay off one credit card. **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [August 25, 2009, 6:58pm UTC](https://boards.straightdope.com/t/47-years-to-pay-off-one-credit-card/507666 "2009-08-25T18:58:10Z")\ **Posts on this page:** 6\ **Page:** 2
**Author:** ![Liberal](https://avatars.discourse-cdn.com/v4/letter/l/848f3c/32.png) [@Liberal](https://boards.straightdope.com/u/Liberal)\ **Post date:** [August 27, 2009, 2:14pm UTC](https://boards.straightdope.com/t/47-years-to-pay-off-one-credit-card/507666/21 "2009-08-27T14:14:25Z")
But your card company can change its terms. And it is surprising that it has not. ---
**Author:** ![Projammer](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/projammer/32/559_2.png) [@Projammer](https://boards.straightdope.com/u/Projammer)\ **Post date:** [August 27, 2009, 7:12pm UTC](https://boards.straightdope.com/t/47-years-to-pay-off-one-credit-card/507666/22 "2009-08-27T19:12:49Z")
I noticed when making an online payment that one of my cards had quietly dropped the option to make a fixed recurring payment of any amount and made ‘pay minimum’ the default. If I had wanted to pay anything other that the balance or minimum I would have to log on and set up a payment manually every month. ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [August 27, 2009, 8:21pm UTC](https://boards.straightdope.com/t/47-years-to-pay-off-one-credit-card/507666/23 "2009-08-27T20:21:26Z")
> [@gigi](#): > > My friend told me her co-worker was bemoaning never getting ahead on her debt; turns out she thought you weren’t allowed to pay more than the minimum. :smack: Perhaps she should use her credit card to buy a dictionary so she can learn the meaning of the word “minimum…” :smack: ---
**Author:** ![ZipperJJ](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/zipperjj/32/211_2.png) [@ZipperJJ](https://boards.straightdope.com/u/ZipperJJ)\ **Post date:** [August 27, 2009, 8:29pm UTC](https://boards.straightdope.com/t/47-years-to-pay-off-one-credit-card/507666/24 "2009-08-27T20:29:41Z")
> [@Liberal](#): > > Never use a credit card as a loan tool. Save your money until you can afford what you need slash want. Use your credit card as a convenience item for travel, etc. But never use it unless you have the funds set aside to pay it off in full. Brilliant advice, dude. Are you the same guy who came up with “eat less and exercise more”? ---
**Author:** ![Icarus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/icarus/32/72_2.png) [@Icarus](https://boards.straightdope.com/u/Icarus)\ **Post date:** [August 27, 2009, 9:05pm UTC](https://boards.straightdope.com/t/47-years-to-pay-off-one-credit-card/507666/25 "2009-08-27T21:05:04Z")
> [@Colophon](#): > > Minimum payments have been creeping down recently, That trend has reversed. Many credit card issuers are raising their minimum payments to 5%. This is hitting some people hard. For example, for people like LSLGuy who use their cards for low interest loans, and who are making near minimum payments, their monthly minimum payment would double. ---
**Author:** ![Rysto](https://avatars.discourse-cdn.com/v4/letter/r/ecccb3/32.png) [@Rysto](https://boards.straightdope.com/u/Rysto)\ **Post date:** [August 27, 2009, 9:48pm UTC](https://boards.straightdope.com/t/47-years-to-pay-off-one-credit-card/507666/26 "2009-08-27T21:48:10Z")
> [@LSLGuy](#): > > Meanwhile, my capital is earning rather more than 2% while the bank pays me to own & drive the car. How much is your capital making after tax? [Previous page](https://boards.straightdope.com/t/47-years-to-pay-off-one-credit-card/507666.md?page=1)