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how can I lower this debt bill since the credit card Co adds $200 finance fee every month – I pay ahead of time

Credit card companies have tricky ways of imposing finance fees. Often the fees start even if you are late on one payment resulting in immediate application of finance fees on every purchase regardless on if you pay all future balances in full and on time.

My guess is that you were late at some point in your payments or you are paying less than the full balance on your credit card every month. If you are only paying a portion of your bill, then yes, they will add finance fees to the unpaid balance you carry over into the next month. The finance fees will continue to grow along with your outstanding balance which ultimately results in a huge and ever growing debt load.

This is how the credit card companies make money. Credit cards become exceedingly expensive for people who carry growing balances from month to month. Everybody should try and pay off all of their credit card balance every month, not just the minimum payment. If you are unable to do so, then do not make any more purchases using credit cards – that is my advice. Thanks.