An article regarding some of the changes in 2019.
I certainly support anything that protects consumers from credit card debt traps.
I happened to look at our CBA MasterCard statement online earlier this morning and noted the advice that it would take 29 years and 8 months if only the minimum payment of $39.00 was made, but this would reduce to 2 years if a payment of $101.95 was made.
As I have posted previously, consumers need to be protected from being placed in this sort of situation by making the minimum payment a realistic amount
Fortunately, we always pay our credit cards in full every month.
