Colorado vs. U.S.

2018 Paid Minimum on Credit Cards

COUS
Paid minimum37.335.2
Paid full5354.1

Colorado vs. U.S.

% Paid Minimum on Credit Cards

COUS
200942.639.6
201238.534.3
20153432.4
201837.335.2
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By only paying the minimum amount due each month on a credit card, consumers are increasing their borrowing costs. This practice can also negatively impact one’s credit score.

Consumers must understand how to manage credit and that paying only the minimum on credit cards can result in a long-term drain on their finances and borrowing ability.