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!