Financial Information
Credit Card Minimum Payment Increases
credit card system
CNN “American Morning” hosted by Miles O’Brien and Soledad O’Brien, interview with Scott Bilker
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#5 written by tetchcyn 1 year ago
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#7 written by xvirg 1 year ago
Years later now, has this policy of increased minimum payments had any affect on the overall debt we carry? Probably not. I would argue that the overall credit card debt has increased and will continue to increase regardless of any changes, either legally binding or voluntarily, the banking industry makes.
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#8 written by MarquisdeLafayett 1 year ago
go ahead , hike my rates , i stopped paying my credit card after maxing it out . and you the card companies can’t do jack to me because it’s UNSECURED DEBT haha , thanks for the free money … oh and my credit score that you warn me will go down , what good is it now eh ? the market is in FLAMES , credit is about to go out the door for the next decade … thanks for the xbox360 visa!
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#11 written by cityprof 1 year ago
What a load of crap. I had a $25,000 balance transfer at 4% interest per year with an automatic monthly payment of $450.00 per month. I’ve paid down $8,000 already. Now Chase wants to increase my monthly payment to $900.00 because they can’t raise the interest rate. This is an impossible situation for me. I’m livid. I’m filing a complaint with the FTC. A lot of good that will do since what Chase is doing is entirely legal. Still, I suggest that everyone complain to the FTC. It’s bait & switch.
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#13 written by mastermoneystar 1 year ago
MarquisdeLafayett….lol…yea, I know what you mean…My best Friend maxed out all of his credit cards also….he got himself all kinds of dvd’s and books on amazon and he went to Vienna Austria on vacation for 1 month and spend 12.000.- with his credit…he even rented a Ferrari there and had way 2 much “free” fun..lol….he is not planning on paying them back…..
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#15 written by Davidbzm01 1 year ago
Everyone. Here’s how you fix it
Take that credit card and cut it up.
CALL THEM and cancel the account.
Don’t just stop using it because they are currently working on a new penalty charge for “NOT USING” your card.
They WILL get the message when 40 million people call them up and say NO.
They wont have a choice but to fix it.When your money stops flowing into their pockets. They will hear you.
No violence. No weapons. No lawyers.Just stop using the card and they WILL FOLD
Easy as that. - Comment Feed for this Post
I found this video to be very informative, it breaks down something that can be very complicated to understand in a way that is extremly user friendly. Great job!