Regulatory guidelines on credit card minimum payments were made three years ago. Read on to find out how this will affect your credit card bill.
Most of the top 10 credit card issuers have raised their minimum payments the last quarter of 2005. The result is that your payments have increased even if you have not added to the card.
The higher minimum credit card payments are the result of guidelines issued in January 2003 by the Federal Reserve, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Office of Thrift Supervision. Card issuers were to adopt higher minimums by the end of 2005, sooner if feasible.
{"id":76,"date":"2006-02-09T13:21:41","date_gmt":"2006-02-09T18:21:41","guid":{"rendered":"http:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/personal-finance\/credit\/warning-your-credit-card-bill-may-be-higher"},"modified":"2006-02-09T13:22:00","modified_gmt":"2006-02-09T18:22:00","slug":"warning-your-credit-card-bill-may-be-higher","status":"publish","type":"post","link":"https:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/personal-finance\/credit\/warning-your-credit-card-bill-may-be-higher","title":{"rendered":"Did your credit card minimum payment increase?"},"content":{"rendered":"\n\n\t<\/p>
Regulatory guidelines on credit card minimum payments were made three years ago. Read on to find out how this will affect your credit card bill.<\/p>\n\n\t
<\/p>
Most of the top 10 credit card issuers have raised their minimum payments the last quarter of 2005. The result is that your payments have increased even if you have not added to the card. <\/p>\n\n\t
<\/p>
The higher minimum credit card payments are the result of guidelines issued in January 2003 by the Federal Reserve, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Office of Thrift Supervision. Card issuers were to adopt higher minimums by the end of 2005, sooner if feasible.<\/p>\n\n