New Requirements Re Credit Card Payments

[RandyS]

I used to carry high balances on credit cards, not any longer...

for anyone who does, new laws in USA require that the bank charge you either 4% minimum payment instead of the 2% it is now (changes this month) or some of the larger banks have done a deal where they can charge the higher of 1% of balance plus that months late fees, if any and the finance charge for that month, or 2%, whatever is higher...

in many cases the latter example will result in payment similar to the old 2%, so I am assuming the larger companies were able to get political consideration

need to find out what your company is doing....

just thought you would want to know !!