In a article appearing on Tricities.com, author Joe Geraghty stated that after the holiday season, credit card consumers will find that they are expected to pay a higher minimum payment than before.
This is due to the fact that the credit card issuers have asked the federal government for this, and in the long run “experts say ultimately will help those in debt crawl out from under a mountain of bills,” Geraghty wrote.
However Jeanette Tucker, Professor Of Economics at Louisiana State University felt this was not such a good idea. She had this to say, “It’s going to be very difficult for those families that are already struggling, where there’s been a significant healthcare expense or a job layoff recently.”
So as we use our credit cards to buy gifts during the holidays, we should keep in mind the ‘surprises’ that might be waiting for us in the new year….
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