I have read many posts over the past few months regarding problems with credit cards.
Can someone clarify what is the current debt on credit cards in Ireland and hence what is the average cc debt?
I acknowledge many have financial issues at the moment due to recession but many didn’t pay credit card bills off monthly either during the boom, when they had the money.
Is this lack of knowledge, reckless spending or what?
I think it is time that the minimum payment row on the credit card bill be erased and just show the balance.
I think this ‘minimum payment’ is reason for many people building up considerable debt. Maybe it should be replaced with projected bill next month.
If people saw the considerable increase for projected bill, then I think they would be more pro-active in clearing them.
Can someone clarify what is the current debt on credit cards in Ireland and hence what is the average cc debt?
I acknowledge many have financial issues at the moment due to recession but many didn’t pay credit card bills off monthly either during the boom, when they had the money.
Is this lack of knowledge, reckless spending or what?
I think it is time that the minimum payment row on the credit card bill be erased and just show the balance.
I think this ‘minimum payment’ is reason for many people building up considerable debt. Maybe it should be replaced with projected bill next month.
If people saw the considerable increase for projected bill, then I think they would be more pro-active in clearing them.