Has anyone's minimum payments gone up?
Find a Conversation
Has anyone's minimum payments gone up?
| Wed, 08-03-2005 - 11:25pm |
Just a question.
I heard that many credit card companies back in April of this year were raising the minimum payment to at least 4% of the total amount due each month. Has this happened to anyone yet? I think one person here posted their Bank of America payment doubled. Anyone else?
Julia

Not yet...my BOA minimum is still $25ish on a $1300 balance. That's only 2%.
BK
I'm not 100% sure since I did some shuffling with the balances and when that happens the minimum payment *always* goes up.
BUT when I was calling the CC companies because I got notice they were going to raise my interest rate and I said No thanks :) with saying to close account, etc... which then in turn made them lower my interest rate to a rate even lower than original during all of that, I was informed that the minimum payment was going to increase to 3% I think it was.
Becky
CL of 4th, 5th & 6th grade Scoliosis
So far (not that I have noticed) our minimums have stayed the same percentage.
Shannon
Shannon
Not that I've noticed. The 3 credit card companies that we have our cards through are MBNA (2 cards); AT&T (the one I use to just do balance transfers); and Target. If any have/will, it would be the Target card. I noticed that the minimum payment seemed higher last month, but didn't figure out the percentage.
Lisa
Our BOA card minimum went up. I need to get rid of all of them.
Dana