Minimum amounts CCs

Justin_GB

Minimum amounts CCs, is it just me or has everyone's monthly min amount payable gone up. I never had a letter from any of my cc co. re a rise but if you have a large outstanding balance and have a very tight budget this could make a big difference. I was paying £5 min on one card now it is £9. I know it is not just me as I have talked to a few people and they have found the same.

Is this another sign of a credit crunch that has been mentioned ?

Justin

rayday2

Seem to be a lot of people mentioning this and interest rate rises too.

Gemmzie

Yup, most have gone up to 4% or 5% minimum payments from 2.5% or 3%.

Too much credit out there, the companies are scared of people getting into difficulty. Same reason they keep upping interest rates