Minimum Payment Hikes Timed with Bankruptcy Legislation

I’d noticed that my minimum payments on my credit cards has changed recently.

  • "Most of the top 10 credit card issuers have raised their minimum payments this year. And in most cases, they’ve done so this quarter."
  • "Regulators urged banks to adjust their minimum payments by the end of 2005." (The legislation passed in 2003)
  • "The increase comes just as energy bills are soaring and a new bankruptcy law has made it harder to erase debt."

Full article at USA Today.