1. He explained that most people only pay the minimum. Banks love this. The balance barely moves, interest keeps stacking, and the person feels like they’re “handling the cr*dit.” The employee said: “This is how a card turns into permanent debt.” That’s why banks highlight the minimum so clearly — not the full payoff amount. 2. The second mistake is cash withdrawals. People think it’s the same as a purchase, but it isn’t. The moment you take cash, higher interest and extra fees kick in. One clie

Do you know that your Average Daily Balance (ADB) is the basis to compute for the interest your account earns for a period? ADB is computed as the sum of your daily balances divided by the number of days per month. In order to earn interest, deposit accounts usually require a minimum monthly ADB. Interest is credited to your account at quarter end. A minimum balance requirement, on the other hand, is the amount of money you need to keep in your account to avoid incurring service charges. The amo