Credit Card Minimum Payment Increases
Posted by Mielno | Posted in Entertainment | Posted on 04-05-2010
Tagged Under : Cnn, Scott Bilker, Soledad O Brien
CNN “American Morning” hosted by Miles O’Brien and Soledad O’Brien, interview with Scott Bilker
By: scottbilker
About the Author:
By: scottbilker
About the Author:
Tetchcyn..yes you are right Credit Card Companies are evil alright!…there are not your Friends..and are only interested to milk as much cash from you as possible….we all should only pay cash for everything…
MarquisdeLafayett….lol…yea, I know what you mean…My best Friend maxed out all of his credit cards also….he got himself all kinds of dvd’s and books on amazon and he went to Vienna Austria on vacation for 1 month and spend 12.000.- with his credit…he even rented a Ferrari there and had way 2 much “free” fun..lol….he is not planning on paying them back…..
so true..i started paying off 3x minimum few months ago on a CC and the minimum went down to a rediculous 10$/ mnth..YOU CANT EVEN BUY A LATTE WITH THAT! they want to slowly bleed the payments out of u its more profitable for them!!!
What a load of crap. I had a $25,000 balance transfer at 4% interest per year with an automatic monthly payment of $450.00 per month. I’ve paid down $8,000 already. Now Chase wants to increase my monthly payment to $900.00 because they can’t raise the interest rate. This is an impossible situation for me. I’m livid. I’m filing a complaint with the FTC. A lot of good that will do since what Chase is doing is entirely legal. Still, I suggest that everyone complain to the FTC. It’s bait & switch.
LOL @ marquis!
liar liar, pants on fire. They increase your minimum payments AND raise your interest to 29.99% which they can easily do.
Why do people like to lie? Stop lying to us already!
I think go ahead , hike my rates , i stopped paying my credit card after maxing it out . and you the card companies can’t do jack to me because it’s UNSECURED DEBT haha , thanks for the free money … oh and my credit score that you warn me will go down , what good is it now eh ? the market is in FLAMES , credit is about to go out the door for the next decade … thanks for the xbox360 visa!
Years later now, has this policy of increased minimum payments had any affect on the overall debt we carry? Probably not. I would argue that the overall credit card debt has increased and will continue to increase regardless of any changes, either legally binding or voluntarily, the banking industry makes.
Do you have a credit card?
credit card companies are like criminals. I decided to start paying off my credit card dedt in 8 month by paying $350 a month and 4 month later I saw my minimum payment drop to $15 form $150 . I’ts because they make more money if you always pay just a little at a time.
Very helpful!
thankx Scottbilker for this video.
I think Because it directly pertained to the issue? It was just the intro material? What part don’t you understand? lol
I think any reason for the first 1min20 of this clip? what a waste of time.
I found this video to be very informative, it breaks down something that can be very complicated to understand in a way that is extremly user friendly. Great job!