Watch the video clip above and you’ll know that it’s harder to pay off your credit card debt since there’s a loophole in new credit card laws requires that your lender applies your payments to your credit card balance with the highest interest rate.

…credit card users are advised to pay as much as they can over the minimum since every dollar over the minimum gets applied to your highest rate.

It shows that people are making only the minimums of that particular month will have their higher-interest balance will continue to add up. Therefore, credit card users are advised to pay as much as they can over the minimum since every dollar over the minimum gets applied to your highest rate.

via MyFoxTampaBay.com

How long does it take to pay off your credit card debt? Use our credit card debt payoff calculator – click here.

If you have massive multiple credit card debts – try out this method: Paying off Your Debt Fast by Paying the First Month’s Minimum Constantly or negotiating with the creditors for credit card debt settlement.