How Much Are You Really Paying
When You Use a Credit Card?

If the interest charge on a credit card is 28.8% (which is not unusual) and you put $5,000 on your credit card for one year . . . . . you will have paid $1440 in interest on your purchase.

To put that in perspective, if you went without the purchased item for a year until you could pay for it with cash rather than charging it, you would be saving $1440 on a $5000 item.

Would you rather pay $5000 or $6440 for that 'must have' new fangled widget??