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Are you sure? I've got a card with a very, very high balance and with minimum payments the balance due goes up every month by about $100.
by shiftpgdn 16y ago
Are you sure? I've got a card with a very, very high balance and with minimum payments the balance due goes up every month by about $100.
- ryanwaggoner 16y agoAre you using it? :) Seriously, I'm sure it depends on what country you're in, whether you're racking up late fees, etc., but I'm pretty sure that it's required in the US: http://creditshout.com/credit-card-minimum-payments/ http://creditshout.com/credit-card-minimum-payments/ http://www.fdic.gov/news/news/financial/2003/FIL0302a.html#h6 http://www.fdic.gov/news/news/financial/2003/FIL0302a.html#h...
- shiftpgdn 16y agoNot using the card, its gone in the shredder after I maxed it out to pay for back surgery. But without a doubt the balance goes up every month. I'm not a computer with a PDF reader at the moment but my credit card statement shows that if I continue to pay the minimum every month it'll take over 2600 years to pay off and I would have paid over 2 million dollars in interest by the time its paid off. This is for a US card as well.
- ryanwaggoner 16y agoYou should think about reporting them (maybe FTC and/or FDIC?) and also transferring your balance to another card.