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How to get people to pay their credit card bills faster
m00head
Posts: 147 Forumite
in Credit cards
The answer is obvious, but the psychology behind it is interesting...
http://timesonline.typepad.com/comment/2008/11/one-way-of-incr.html
http://timesonline.typepad.com/comment/2008/11/one-way-of-incr.html
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Comments
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I suspect if there was no minimum payment then a lot of people would be in more debt than they are now.0
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Yes, I don't follow the logic of that proposal.
If you take away mimimum payments, what's to stop people deciding to max out their cards and then pay off 10p a month for life (for example)??0
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