It’s a common myth that making the minimum payment on a credit card will prevent interest from accruing—but that’s not true. Unless your card has a 0% APR promotional period in effect, any remaining balance beyond the minimum paid will start accruing interest immediately after your due date. Credit card issuers charge interest daily, meaning the longer you carry a balance, the more you’ll owe. This daily compounding can add up fast, even on small balances. Paying only the minimum keeps your account in good standing but does nothing to stop interest from piling up. Over time, this can snowball into significant debt that’s tough to pay down. To avoid this trap, try to pay your full statement balance or at least more than the minimum each month. Doing so helps minimize interest and maintain better overall financial health.