The Hidden Costs of Carrying a Balance

Carrying a credit card balance isn’t just about the interest you pay—it comes with several hidden costs that can keep you stuck in debt.  Late fees, over-limit fees, and annual fees are often added to your balance, making it harder to pay down the principal. Plus, high balances affect your credit score, which can make future borrowing more expensive.  By paying down your credit card balances as quickly as possible, you avoid these hidden costs and set yourself up for long-term financial success.