A letter says you're preapproved for a credit card at 18% annual interest rate, If you spent $1000 on the card and paid it off after one year (12 monthly payments), how much would you pay in interest? Is this a good deal? Why or why not?
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When you have multiple credit cards, it's more effective to focus on paying off one credit card at a time rather than spreading your payments over all your credit cards. ... You'll make more progress when you pay a lump sum to one credit card each month.
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