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Unformatted text preview: o Grab the freebies Affinity cards o You charge alot Secured cards o Damaged credit MINIMUM PAYMENT ISSUES 2 % of amount owed-Interest payment (APR/12) What you paid towards the principle New methods of computing: Minimum payments changed…. Finance charges + 1% of balance = minimum payment OR Finance charges + $10 = minimum payment CREDIT RATIOS Debt payment to disposable income Debt payments Disposable income = .15 - .18...
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This note was uploaded on 12/01/2011 for the course HDFS 238 taught by Professor Boyce during the Fall '10 term at Michigan State University.
- Fall '10