sounds like something changed on your CR....
This seems to be the beefy part. I got it as well. Basically if you enroll in their protection service (which i believe is the "if you get sick or hospitalized you won't be responsible for this debt of up to however much" ) that fee is tacked onto your minimum payment, as opposed to just becoming part of your balance. There is also some stuff in there about collections, but I think this is the major change.
I got the same message when I logged in today. Looks like something they are doing across the board with all customers. Doesn't really affect me since I don't have the credit protection plan through them. Of course the arbitration part applies to everyone.
Capital One Venture: $30,000; Capital One Quicksilver: $10,000; PNC CashBuilder: $15,000; Chase Marriott Rewards: $10,000; Citi Double Cash: $9,400; Barclay Arrival World MasterCard: $11,150; USF FCU Rewards Visa Signature: $10,500; Suncoast CU Visa: $3,000; Discover It: $3,500; Nordstrom: $2,000; Kohl's: $2,500; Target: $600; Lowes: $6,900; Sams Club: $3,850; Evine: $3,000; HSN: $1,800; Paypal Credit: $4,350; Amazon Store: $5,400 --- EX: 726; EQ: 726; TU: 741
@Anonymous wrote:Isn't there some law that forces CC companies to charge a minimum payment that will actually get a card paid off eventually?
Once upon a time CC companies would charge such a small minimum payment that you were basically paying no principle and paying all interest.
Maybe Discover had to do it, to your benefit.
I think so but they can make the spread so thin that it could take 10 years of making payments to pay it off. Also making minimum payments doesn't guarantee that someone wouldn't just pay minimums and charge back up to the limit again, effectively carrying the debt forever.
