An article regarding proposals to ban buying lotto tickets with credit cards.
What a disgrace that there is still no action to raise the minimum monthly payments on credit card bills.
We paid our CBA MasterCard bill yesterday in full, as usual, for some $5,300 and noted that the statement advised that paying some $273 a month would pay the accont off in 2 years and accrue some $1,250 in interest, but paying the minimum amount of $106 would take over 68 years and incur over $35,000 in interest.
What an absolute disgrace. Consumers would be far better protected by raising the minimum monthly payment amount instead of worrying about lotto tickets.
