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Article: CU CARDHOLDERS CAN RAISE MINIMUM MONTHLY PAYMENT.(enable customers to pay off their debt faster by making larger monthly payments)(Brief article)
- Article from:
- Cardline
- Article date:
- September 22, 2006
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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State Employees' Credit Union in Raleigh, N.C., this week announced a change in its credit card program that lets members select a different, higher fixed percentage rate for their minimum monthly payments. The goal is to enable customers to pay off their debt faster by making larger monthly payments, says Leigh Brady, senior vice president of education services. The default monthly payment is 3% of the credit balance. Under the new policy, cardholders can choose to fix the set rate at 4%, 5% or 6%. If they do not pay their higher ...
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