Minimum payment to double on credit cards

[DJ]

Re: Minimum payment to double on credit cards

However, many folks working with my company are deep for many reasons but are good folks and would pay off over time if they could. Can't do at 19%.<br />

TXS,<br /><br />I think YOU should step in and pay them off.

 

[tommays]

Re: Minimum payment to double on credit cards

i dont owe anything but find credit card companys are the loan sharks of are time<br /><br />my 18 and 21 year old children get bombed with offers on and almost daily basis<br /><br />my older and younger brothers are both mentally handicapped <br /><br /> both of my brothers have gotten cards they should not have and both have had two bankruptcies <br /><br />yet my older brother who is less than one year from his last bankruptcy has yet again gotten credit cards and owes several thousand dollars <br /><br />his only source of income is Social Security disability held how do you look yourself in the eye and give a credit card to someone with no income and two bankruptcies <br /><br />and then have the guts to lobby to get the bankruptcy laws tightened up so you can lock in the people you trap<br /><br />tommays

 

[neumanns]

Re: Minimum payment to double on credit cards

Now the only way this will help ya az is if ya cancel the card's and don't get no more. Not even for the emergency value.<br /><br />KB, as it turn's there is a lot of false information and even I have repeated some of it. The minimum's are increasing and are on a company by company basis. Some co's are increasing by more than other's but most if not all are increasing substaantually.<br /><br />One company I am aware of for example is increasing the minimum from $15 principal plus intrest to 1% of principal plus intrest. So under this formula if ya owed 10K at 15% your old payment was $165 and your new payment would be $300

 

[KRS]

Re: Minimum payment to double on credit cards

Thx all, txswinner makes statements that make no sense to me. Credit cards are the highest risk to any lender, higher than any other type of loan, and their pricing of the interest rate reflects that risk.

 

[rodbolt]

Re: Minimum payment to double on credit cards

credit cards may be high risk but its the card companies that make it so, in november 3 of my 8 cats got creditcards in the mail. all they had to do was call in the number to activate the card. my sone is almost 16, so far I have 9 cards for him that only require a phone call to activate. I still dont know who is releasing my cats or my sons information but someone somewhere is. I just hope my horse does not get one, a credit card to her coupled with a few valley vet catalogs and she will be bankrupt as well. but I was tempted to have my cats activate the cards,max them then declare bankruptcy.

 

[txswinner]

Re: Minimum payment to double on credit cards

AZ and others who did not see or do not understand the new Bankruptcy Law passed by a narrow margin in Congress. CC are no longer unsecured. CC debt can not be dissolved by bankruptcy any longer but remain an open debt for which you can be harassed, subject to judgement, attached as liens until you die.<br /><br />They are not secure as real estate loans but certainly are as solid as auto or boat loans where there is security.<br /><br />Hope this explains.<br /><br />Oh and DJ, Your idea is great and I will point this out when profit sharing between my fellow workers and meet at our annual meeting of all company employees (that includes me the owner) and they receive the fruits of their hard and quality work which made our company profitable this year.<br /><br />Thank you for the suggestion.

 

[RubberFrog]

Re: Minimum payment to double on credit cards

Sold a lot of smoke bombs this year?

 

[txswinner]

Re: Minimum payment to double on credit cards

Sorry it was over your head.

 

[Ron G]

Re: Minimum payment to double on credit cards

When ya mess with snakes your going to get bit eventually.<br /><br />AZ hope it all works out for you but the main thing is stopping it at the root not throwing band-aids on it.good luck

 

[txswinner]

Re: Minimum payment to double on credit cards

Last thought from me.<br /><br />Credit Card companies call those who pay off bill each month "deadbeats" Why? Because they only make the money for their service.<br /><br />Credit Card Companies their life time clients. Give low interest rates to those with poor payment record then jump to maximum % when payment is late or missed. IT IS IN THE CONTRACT.<br /><br />Works just like dope dealers, get em hooked cheap then increase the price.<br /><br />It was known as "Loan Sharking" until they bought congress on both sides of the aisle. Now they have managed to secure the debt by eliminating exposure of dismissal through bankruptcy.<br /><br />They have an even higher profit % than our friends in the oil business.