<prompt> Human: I have a question about credit card payments. If I choose to make monthly payments above the minimum does that generally go to the principal or to interest?  <response>: Principal. By law, you dont accrue interest on your balance for the future, only the past. Let me use an example to illustrate why you want to pay more than the minimum:You have 2500 balance today at 22 APR. Interest would be 45.83. You pay 545.83.Next month, your balance would be 2000 at 22 APR. Interest would be 36.67. Paying 500 above the minimum would pay this debt off in 5 months.When you pay the minimum, you are generally paying only the interest, plus a very small portion of the principal I believe the law says at least 1. Another example:You have 2500 balance today at 22 APR. Interest would be 45.83. You pay 70.83. 25 to principalNext month, your balance would be 2475 at 22 APR. Interest would be 45.34. Paying the minimum would pay this debt off in approx. 100 months. 