03.12.2025 20:30
Consumers who only pay the minimum amount on their credit card debt are facing serious financial risks. This payment system, which provides short-term relief, increases the debt, compounds the interest, and can lower the credit score. Experts are warning all consumers...
With the increase in credit card usage, consumers who only pay the minimum amount each month are facing serious financial risks.
However, financial experts indicate that this payment system, which provides short-term comfort, leads to a rapid increase in debt in the long term.
DEBT GROWS UNNOTICED
Experts emphasize that users who make minimum payments are unknowingly increasing their debt instead of reducing it, stating, "Making a minimum payment on a credit card is not paying off the debt, but postponing it. The debt accumulates every month and becomes a burden that lasts for years." It is noted that especially those who only make minimum payments for a long time see their debts increase rapidly due to the "snowball effect."
"THE MOST EXPENSIVE WAY TO USE A CREDIT CARD"
International banking data shows that the monthly interest rates applied to credit card debts are around 3-4%. While the unpaid principal increases every month, the debt can escalate significantly within a few months. A financial expert summarizes the system as follows: "Minimum payment is the most expensive way to use a credit card. Interest continues to accumulate without the principal decreasing."
IT ALSO LOWERS YOUR CREDIT SCORE
While making a minimum payment for one month does not lower your credit score, users who make it a habit are seen as risky customers by banks. This situation can lead to loan applications being rejected, low limits, and denial of additional card requests. Financial analysts state, "Minimum payment behavior is a sign of financial pressure, and banks closely monitor this."
IF NO PAYMENT IS MADE FOR TWO MONTHS, THE CARD MAY BE CLOSED
If minimum payments are not made for two consecutive months, the card may be temporarily closed; if no payment is made for three months, legal proceedings begin. This negatively affects the credit record and complicates long-term financial planning.
CLEAR ADVICE FROM EXPERTS: USE ONLY IN EMERGENCIES
Financial experts recommend that minimum payments should only be used for emergencies. Every month, payments should be made above the minimum amount whenever possible, and if necessary, debts should be restructured to be paid off at a lower cost.