Learn how to get the best out of your credit card

For those struggling under a lot of credit card debt, the first step is to stop using the card.

Credit cards have a split personality. Pay off your full balance on time each month and they are the cheapest form of credit. But if you miss a payment, or even just pay the minimum, you’ll end up paying the highest penalties and interest in banking.

The minimum repayment amount is sized so that it largely takes care of the interest, and doesn’t make much of a dent in the capital.