Cleanmachine wrote:
We are making changes to the Discover® Cardmember Agreement.
We are also making changes to your Minimum Payment Due calculation, which may result in a lower required monthly payment.
Minimum Payment Due. Effective December 1, 2012, we are changing the Minimum Payment Due calculation, which may result in a lower required monthly payment. This change applies to any Minimum Payment Due that is calculated for the billing period that starts on or after December 1, 2012. We are replacing the "Minimum Payment Due" section of your Cardmember Agreement with the following:
"Minimum Payment Due. You may pay the entire New Balance shown on your billing statement at any time. Each billing period you must pay at least the Minimum Payment Due by the Payment Due Date shown on your billing statement. The Minimum Payment Due will be any amount past due plus the greater of:
- $35; or
- 2% of the New Balance shown on your billing statement; or
- Any Interest Charges and Late Fee shown on your billing statement, plus $20.
The Minimum Payment Due may also include amounts by which you exceed your Account credit line. However, it will never exceed the New Balance. When we calculate the Minimum Payment Due, we may subtract from the New Balance certain fees added to your Account during the billing period. The Minimum Payment Due is rounded up to the nearest dollar."
I saw that on the site. Nice email warning they sent out about it as well. But since I pay my balance in full each month its just a bunch of bla, bla, bla to me.
-Ouch Fell out of the Garden-
AMEX PR Gold, AMEX Blue cash (15k), AMEX Delta (5k), US Bank Premier Line (14.5k), US Bank Cash + (5k), Chase Freedom (5k), Fred Meyer Rewards Visa (7.5k), US Bank Flex Perks Travel Rewards (5k), Discover IT (3.25k), Alerus Financial Visa Signature issued by Elan (10k) and JCPenney (5k..Oldest Account 20 Years)
FICO Score = 785 TU & 739 EQ Goal is 800 TU & 750 EQ
CreditKarma score = 762, CreditSesame score = 780, Vantage = 861
