minimum payments on credit cards!

[Creditaddict]

Anyone else seeing these rise as of late? we just got a new BB&T Visa and the first 2 months the min. was 1%, they must have gotten mad because I paid just above that, this month it was 5%!!!

I mean granted I will pay my bt off faster but going from a $60 to $450/month is a big jump!!

[Anonymous]

Back in the old days when cards were first intoduced, 5% was pretty standard.  Yes, it hurts to have it jump that much - means money not going elsewhere, but it will get paid off faster which is good for you and for our economy i.e. a quicker recovery.  Personally, I expect to see a lot of this return to the 'old ways'.

tHIS ARTICLE ISN'T SPECIFIC TO BB&T BUT THE INFO IS STILL USEFUL

Message Edited by Lady_Scarlet on 11-17-2008 04:37 PM

[marty56]

Chevron (GEMB) did that to me when I was close to my limit.  These days I PIF. Lesson learned.