For decades, the “minimum payment” approach has been sold as a safety net. Pay the minimum, avoid penalties, keep your credit intact. But here’s the reality: minimum payments are a trap, not a solution.

With average credit card APRs between 18–29%, minimums barely dent the principal. A $10,000 balance with a 20% APR can take over 20 years to pay off if you only make minimums. That’s not a plan. That’s financial quicksand.

The lending environment has shifted. Rising interest rates and inflation mean every dollar wasted on interest is more painful than ever. Borrowers who cling to the minimum-payment mindset are essentially signing up to pay 3–5x the original balance over time.

It’s time to challenge this outdated strategy. Consolidation loans offer an alternative: fixed payments, predictable timelines, and actual principal reduction.

The truth? Minimum payments protect lenders, not borrowers. It’s a strategy that deserves to die.