minimum amount due on credit card

creditandmortgageindex · Joined: 01 Feb 2006 Posts: 10 0.57 Dollars($)

If one carries a balance on credit card and pays only the minimum payment due, an increase in the amount of the minimum payment will begin... because of some federal banking regulators who have issued some new guidelines that the companies must use when calculating the minimum amount due.. is this true?

adonis · Posted: Sun Feb 05, 2006 11:14 pm Post subject: RE

Yeah,

If its under federal banking regulations, then it has to follow the rules and guidelines and if it effects the minimum payment then neither you or me can do anything about it.

Always common people has to suffer from these regulations but though i will suggest you to check it once.

Guest 0.10 Dollars($)

Yeah adonis, I totally agree with you. We cannot do anything about it. Its the common people who suffers the most.

Govt always makes policies to cut down the pockets of people like us. They should rather look after those riche rich who has lots of money for merry making.

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