Consumers Hit as Banks Raise Card Payments

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004308-consumers-hit-as-banks-raise-card-payment/

Gary Cone says there’s got to be a better way than “the American way.”

“People have a tendency to live beyond their means and, for most people, credit is ‘the American way,’ ” said the construction superintendent from Melbourne, Fla. “Most people try to get by as cheaply as possible on a monthly basis. I always make a larger payment than what’s requested by the credit companies each month.”

That’s a good thing, because the credit card arms of two major banks – Bank of America and Wachovia – increased monthly minimum payments recently for customers.

For this complete story, please visit Consumers Hit as Banks Raise Card Payments.

Consumers Hit as Banks Raise Card Payments

Unknown Author

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