Green Bay Press-Gazette – Credit card minimum about to be more:
“If you pay just the minimum on your credit card balances, be prepared to write bigger checks soon.
Two of the country�s major credit card companies are poised to raise those minimum payment rates in response to federal guidelines trying to eliminate credit card problems.
Local credit counselors say that while the move will be painful for some, it will help out-of-control spenders in the long run.
�It�s going to affect a lot of people,� said Sandie Miske, president of GAP Financial Services of Green Bay. �It�s forcing people to become more financially responsible.�
That�s a concept many Americans seem to be drifting away from.
On average, Americans carry eight cards with a balance of $8,562, according to The Motley Fool Credit Center.”
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