CrashIsUnderWay Posted December 30, 2005 Share Posted December 30, 2005 Credit Card Companies in US are being forced by the Federal government to double the minimum required monthly payment they are currenly asking of their customers. That means if you have significant credit card debt and lets say your payment is $330 a month currently... Your payment will now increase to $660 a month. This means a tight squeeze for many who are living paycheck to paycheck with maxed out credit accounts. Think the Fed knows something we don't?? Quote Link to comment Share on other sites More sharing options...
eek Posted December 30, 2005 Share Posted December 30, 2005 Credit Card Companies in US are being forced by the Federal government to double the minimum required monthly payment they are currenly asking of their customers. That means if you have significant credit card debt and lets say your payment is $330 a month currently... Your payment will now increase to $660 a month. This means a tight squeeze for many who are living paycheck to paycheck with maxed out credit accounts. Think the Fed knows something we don't?? This is old news from I think June or so. I think the problem is not that minimum payments need to be raised but that a couple of years back minimum payment requirements were cut and certain people won't notified (as otherwise the banks would have been told NO a lot sooner). Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted December 30, 2005 Author Share Posted December 30, 2005 credit tightening effect tho, aint it? Quote Link to comment Share on other sites More sharing options...
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