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If you choose not to pay the total amount of your credit card balance, an interest will be charged on the balance due. This interest will then generate new interest: this is the compound interest<\/b>. In case you have an important amount to pay and decide to pay it in several months, the compound interest could represnt an higher cost than expected.<\/p>\n Let’s say you have a 2’000 Chf balance due on a credit card, and you choose to pay 100 chf \/ month for the reimbursement. How many months for a full repayment, and how high will be the compound interest?<\/p>\n Par exemple vous avez une facture de 2’000 Chf de carte de cr\u00e9dit, et choisissez de la rembourser avec des mensualit\u00e9s de 100 Chf, en combien de mois sera rembours\u00e9e votre facture si l’on tient compte des int\u00e9r\u00eats et int\u00e9r\u00eats compos\u00e9s, et combien d’int\u00e9r\u00eats compos\u00e9s payerez-vous au total? We save you the calculation details here, but with a rate of 15%:<\/p>\n * These amounts are indicative and may vary according to the method of calculation.<\/p>\n Compound interest become even more important if your repayment is spread over a long duration. If you have an high credit card balance and choose to pay in several months, a debt consolidation loan<\/a> could be a solution. Indeed, you will have the possibility to pay your credit card balance at once, and benefit from a lower interest rate<\/b>.<\/p>\n<\/span>An example<\/span><\/h2>\n
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<\/span>How about a debt consolidation loan?<\/span><\/h2>\n
<\/span>Learn more<\/span><\/h2>\n