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Credit card minimum payments are doubling

The New Year is here and with it higher credit card minimum payments. Credit card companies are raising their minimum payments from 2% of the balance to 4% of the balance starting this month. While this increase may sting a bit initially, in the long run this means that you'll pay off your debts much faster and pay less interest.

Have you seen your minimum payments rise already? If so, send CreditBloggers.com an email or post a message in our comments section. Share your tips for managing higher credit card minimums online today!


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Posted by EmilyPeters on January 03, 2006 at 08:54 AM |

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Bringing together leading experts to discuss credit, loan, debt and identity theft topics, CreditBloggers provides readers with unique insight and straight answers about the financial world. This credit blog is moderated by Emily Peters, formerly a TransUnion consumer credit expert.

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Disclaimer: This information has been compiled and provided by Creditbloggers.com as a service to the public. While our goal is to provide information that will help consumers to manage their credit and debt, this information should not be considered legal advice. Such advice must be specific to the various circumstances of each person's situation, and the general information provided on these pages should not be used as a substitute for the advice of competent legal counsel.