Archive for June, 2009
The fees are usually $25 a year, and you’re thinking that it would be a hassle to switch credit card companies, and anyway, $25 a year is not that big a deal. How long do you plan to have your credit card? Probably for the rest of your life, let’s say until you’re eighty-five. At 8 percent interest that $25 will add up to $6,476 if you’re forty-five today; $14,344 if you’re thirty-five today; and $31,330 if you’re twenty-five today. To me, that’s found money.