How long to pay back?

ltjman22 · 04-05-2007

how long on average does it take to pay back any credit card debt? Does it depend on the interest rate on the card?

chargebacks · 04-05-2007

Depends on so many factors, if you have a big balance and a high interest rate, but only pay the minimum, it could take 20+ years.

dovic1 · 04-05-2007

If you have a large credit card debt, You could pay more on it then required. Maybe you an double your payments. Sometime the payment is just a little more then the interest.

sood123 · 04-25-2007

It all depends on the interest rate you`d be giving back. High interest rates eventually turn out to be longer payment tenure.

laker110 · 05-26-2007

It depends upon the bank balance so many other things are there. I think the rate of interest is the basic factor

**peyton999** · 06-05-2007

It depends upon the interest rate and the balance which is in your account.

04-05-2007	#1 (permalink)
ltjman22 Senior Member Join Date: Apr 2007 Posts: 409 Rep Power: 0	How long to pay back? how long on average does it take to pay back any credit card debt? Does it depend on the interest rate on the card?

04-05-2007	#2 (permalink)
chargebacks Administrator Join Date: Feb 2007 Posts: 220 Rep Power: 10	Depends on so many factors, if you have a big balance and a high interest rate, but only pay the minimum, it could take 20+ years. __________________ John Lark Chargeback Forum Senior Moderator http://www.chargebackforum.com/

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04-05-2007	#3 (permalink)
dovic1 Member Join Date: Apr 2007 Posts: 67 Rep Power: 2	If you have a large credit card debt, You could pay more on it then required. Maybe you an double your payments. Sometime the payment is just a little more then the interest.

04-25-2007	#4 (permalink)
sood123 Senior Member Join Date: Apr 2007 Posts: 274 Rep Power: 2	It all depends on the interest rate you`d be giving back. High interest rates eventually turn out to be longer payment tenure.

05-26-2007	#5 (permalink)
laker110 Senior Member Join Date: May 2007 Posts: 110 Rep Power: 2	It depends upon the bank balance so many other things are there. I think the rate of interest is the basic factor

06-05-2007	#6 (permalink)
peyton999 Banned Join Date: Jun 2007 Posts: 251 Rep Power: 0	It depends upon the interest rate and the balance which is in your account.

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