Your credit card company is completely happy with you paying only your minimum payment. Why? It is because a majority of your payment is going toward interest while just a small portion of your payment is actually paying down the principle balance. Therefore, paying the minimum on a month to month basis will keep you in debt longer and will likely have a negative impact to your credit profile and will take you a lot longer to pay off your debt.

Why is this a healthy way to rebound from debt?

Your credit profile will finally show account balances down to zero within 1-4 years, your credit utilization will decrease to help you raise your credit score rather than you making the minimum payments each month which impacts your credit profile negatively.

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