21st
July
2005
Credit Card Minimum Payments?
posted in General |Radio commercials have sent a shiver of fear into our monthly budget. I’ve heard that “Congress has passed a bill to double the minimum payment for open-ended credit accounts” and that it’s effective next month. Do you have any information on this?
I found this bill, which is apparently not yet a law, and I can see why this would send credit card cockroaches scurrying for a 10% minimum payment; but I haven’t found anything else. I also called the two credit unions we have visas with, but their “visa coordinators” have played dumber than usual. Although one told me that my August payment won’t be strikingly higher than this month’s.
