🏠How Lisa’s $3,800 Credit Card Could’ve Haunted Her for 26 Years

 

Lisa’s a 34-year-old teacher living in Melbourne’s southeast. Like many Aussies, she got a credit card years ago to help manage unexpected expenses and the odd overseas trip. Fast forward to now – her card has a $5,000 limit, and she’s carrying a balance of $3,800.

The kicker? Her interest rate is 17%, and she’s only been making the minimum monthly repayments.

So we asked the question: If Lisa continues paying just the minimum each month, how long will it take to clear that $3,800?

Yep, that’s over three decades of paying off one holiday and a few online purchases.
And that’s assuming Lisa doesn’t use the card at all in the meantime. One small emergency or a bit of spending and she’s back to square one.

 

Most credit cards only require you to repay 2–3% of your balance each month (or a flat $20). Sounds manageable – but here’s the trap:

Lisa came to chat with us. We looked at her overall situation and helped her: ✅ Consolidate her credit card into her home loan
✅ Pay off the card at a much lower interest rate
✅ Set up a plan to get on top of her finances for good

Now, Lisa is saving money, reducing her stress, and finally feeling in control.

 

💬 Moral of the story?

Don’t let a few thousand dollars trap you for the next 20+ years. If you’re only making minimum repayments, now’s the time to act.