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Wednesday, December 28, 2005

Merry Christmas and Sorry About the New Year.

To many in Virginia the cost of Christmas is going to get higher. Thousands of Virginians who bought and paid for Christmas on plastic are going to find a present in their credit card statement.

WVTR News is reporting:

Citibank, MBNA, and Bank of America and more credit card issuers are going to be doubling the minimum payment in January.

2 Comments:

At 11:37 AM, Anonymous Melissa said...

This stinks! A direct effect of the new bankruptcy laws! Now the banks can squeeze people more and not have to worry about them rushing to file bankruptcy.

 
At 11:56 AM, Blogger B O B said...

Thank you for your comment Melissa. The credit card companies think this is a good thing, but in the long run I suspect it will reduce the total amount of spendable money and will have the effect of helping to bring our economy to a standstill.

 

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