January 14th, 2010, 02:44 PM #1Senior Writer
- Join Date
- Oct 2007
Credit Card Rules Part 1 - Cardholder Notification
January 14th, 2010, 11:28 PM #2
Re: Credit Card Rules Part 1 - Cardholder Notification
I like this info, it encourages cardholders to pay off their balances faster because they have a full description of monies that will be wasted by paying minimum payments. This type of information demonstrates clear examples of how you will wound up paying three times the amount of an actual value by making only minimum payments (for example, you purchased a vacuum cleaner which costs $100. By making minimum payments only until balance is paid, the final cost of the vacuum is now $300).
~~Ps, this is basically what happened to me for the past few months!~~