[lbo-talk] Credit Card Loan Delinquencies Reach Record High

[jthorn65 at sbcglobal.net]

> On Tue, 4 Oct 2005, Doug Henwood wrote:
> 
> > Minimum payments are about to double, from roughly 2% of the balance to 4%. A 
> > lot of people are going to be surprised - about 5% of CC holders make only 
> > minimum payments.
> >
> > Doug
> 
> For every credit card company?  At the same time?  Call me paranoid,
> but this has to be collusion, right?  They couldn't all independently
> come to the same conclusion about the policy at the same time,
> could they?
> 
> Miles

I thought there were only three CC companies anyway, MC/VS, AMEX, and DISC as far as I know. I thought 
MC/VS also had something like 80% of the market. If MC/VS raised their minimum that would effectively 
raise the minumum for most people I should imagine.

John Thornton