The 20% Number Most People Ignore on Their Credit Card

That 20% interest rate on a credit card matters. If you carry a balance, interest can increase the total amount you ultimately repay.

This short explains why checking the interest rate is important before borrowing and why the purchase price may not be the final cost when debt is involved.

Watch the complete lesson How Debt Works: Interest Explained for Beginners on Beginner’s Personal Finance.

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