Miles Thomas: Credit card companies part of the inflation problem

  • 📰 PGCitizen
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

People can never pay down their principal amount owing.

What needs to be done but is being overlooked is the interest rates that credit card companies are charging needs to be drastically scaled back.

An example would be if you've got $20,000 owing in credit card debt, your minimum monthly payment would be $1,500 of which $1,100 would be interest charged each month going forward. It will take you a decade plus of payments to pay this debt off and giving you no extra money to spend.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 65. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines