Credit Card Minimum Payments

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Description

Recently, credit card issuers began adjusting their minimum payment formulas, raising the amount of the required monthly payment. Congress has focused on the need to increase consumer awareness of the financial jeopardy that can result from paying only the required minimum. This report provides an overview of the issues and congressional action. It will be updated as events warrant.

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5 Pages.

Creation Information

Smale, Pauline December 21, 2005.

Context

This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 11 times . More information about this report can be viewed below.

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Description

Recently, credit card issuers began adjusting their minimum payment formulas, raising the amount
of the required monthly payment. Congress has focused on the need to increase consumer awareness of the financial jeopardy that can result from paying only the required minimum. This report provides an overview of the issues and congressional action. It will be updated as events warrant.

Physical Description

5 Pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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Creation Date

  • December 21, 2005

Added to The UNT Digital Library

  • March 19, 2016, 1:57 p.m.

Description Last Updated

  • Feb. 9, 2017, 8:26 p.m.

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Total Uses: 11

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Citations, Rights, Re-Use

Smale, Pauline. Credit Card Minimum Payments, report, December 21, 2005; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc820910/: accessed November 19, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.