Minimum Credit Card Payment Increase
A recent report stated that the reason for the Minimum Credit Card Payment Increase is a result of rising ENERGY COSTS! Give me a break. We are supposed to believe that somehow forcing millions of Americans to double our payments each month is the answer to rising energy costs?
It seems more accurate to say that the credit card companies want to get every penny they can before people can't afford to pay anything because of rising energy costs.
Be that as it may, major credit card companies are in the process of raising the monthly minimum credit card payment from 2% to 4% or higher. Some maintain(guess who) this is a good thing because it forces people to pay off their debt, but for many the result will be disastrous.
Millions of consumers have become accustomed to paying the minimum monthly payment and will never pay-off the debt. For some that is a choice, but for others it is out of necessity.
Citibank, Bank of America, and MBNA are already making the minimum credit card payment increase and the rest are sure to follow. For obvious reasons, this has not been highly publicized, but it is happening none the less.
This will put a strain on many and for some, it will push them into bankruptcy. At the very least it will force some serious lifestyle changes, but now is the time to do something about it. You can rethink your spending habits, cut back on impulse spending, or MAKE MORE MONEY!
The latter would be preferrable to most, if they could figure out how. There are countless opportunities that claim to show you how and that is what this website is all about. Before you commit to an opportunity, check here first.
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It would be wise NOT to wait until these minimum credit card payment changes are upon you, take action and head them off at the pass!
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