One thing that is interesting to look at is how long it would take to payoff your balance if you were to make the minimum payments. Nobody banks love passing out credit cards, look at these statistics that we found by entering some information into a credit card payoff calculator:

Debt: $7500
Interest Rate: 12.5%
Minimum Payment: 2% of balance

By doing this simple calculation using the <a href="http://creditcardpayoffcalculator.com/?page_id=141">minimum payments on the calculator</a> it would take you over 20 years to payoff your debt and it would wind up costing you over $7000.

So to say the very least it would be best if you make a little bit more than the minimum payments, even if you were able to pay down your payments by dropping an extra $50 you would be cutting the time you have to pay back your credit card debt by nearly 75%!