If you have a credit card, there is a chance that you are throwing thousands away.
This is because of your APR – or annual premium rate - which on average is 29.8%. This rate determines how much interest you pay when paying off outstanding card balances.
Those who are paying off cards over a long period of time could find themselves missing out on hundreds, or even thousands, of pounds, reports the Mirror. On top of this the interest rates could make an already long process even longer.
