I found out my credit card interest was way higher than I thought

I was looking at my statement from Capital One and finally did the math on the 24.99% APR. I always just paid the minimum, but that rate means a $1,000 balance would cost almost $250 in interest a year if I didn't pay it down. I found this out on their own website's calculator tool. Has anyone else been shocked by how much interest they're actually paying?

4 comments

4 Comments

charlieh742mo agoMost Upvoted

My friend had a total meltdown over that.

hannahj492mo ago

I see it differently, @charlieh74.

hannah_craig2mo ago

Yeah "total meltdown" is a bit much. People get too worked up over small stuff. It's not that deep lol.

david_walker977h ago

I get what your friend is going through but I think calling it a "total meltdown" still feels like too much. My neighbor had a similar thing happen with a delayed package and he was pacing around his porch for three hours complaining to anyone who would listen. That's just being annoyed not a meltdown. A meltdown is when you can't function for a day or two. Being loud about a minor inconvenience doesn't quite hit that level in my book.