Interesting Credit Trend...
I have 3 credit cards. 2 are personal and 1 is business personal (I use it for business and they reimburse after I submit)
The business one sometimes can carry as hight as a 10k balance. It is fine by me because I get all of the rewards stuff.
6 Months ago the minimum payment on this card at 10K was 175.00. (I have had the card for a few years, so it wasn't a special interest rate.
Last month the card came back with a balance of 9100. My minimum payment is 350. Not an issue because my check from the company is coming.
I am not a credit risk, and have never missed a payment on anything in my life.
Folks that aren't in this position though are going to get killed with minimum payments doubling.
Here it comes...
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Spooooooon
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