A funny thing happened last week when I opened up a credit card bill: the minimum payment due was $0.
I did a double-take. Zero? Huh?
I looked at the last payment… not in this cycle. It was as expected. This wasn’t paid off, so what gives?
At the very bottom of the bill was a little “IMPORTANT MESSAGE” that said, essentially, I had the opportunity to skip a payment. Oh, hooray! It reiterated that my minimum payment was $0. “But,” the bill said, “interest will continue to accrue.” Of course. I also had the option to make a payment like I normally would.
Skip payments. Ugh.
Posted in Consumer Commentary