Quote:
|
Originally Posted by Ustwo
Perhaps the best solution would have been to grandfather those with big balances but no matter what its a lose/lose situation.
|
I think grandfathering big balances (maybe 5k and up), as they are right now, would be a nice resolution.
The overall intent is solid and in the long run, people will be much better off. Cards will be paid off in less than half of the time and higher monthly payments may deter people from carrying large balances. However, in the short term this could really hurt a lot of people. There are MANY people out there with 10-20k in credit card bills.