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Xellos-_^ · 2011-11-17, 16:12

Chalk it up to the law of unintended consequences: A team of American and British researchers found that when debtors are presented with information about how much interest they will pay if only minimum payments are made — information currently required on credit card statements under the CARD Act — they are more likely to pay only that minimum amount and no more, increasing both the duration of their indebtedness and the amount of interest they eventually pay.

http://moneyland.time.com/2011/11/17...ivate-debtors/

2011-11-17, 16:12	Link #17737
Xellos-_^ Not Enough Sleep Join Date: Nov 2003 Location: R'lyeh Age: 48	Chalk it up to the law of unintended consequences: A team of American and British researchers found that when debtors are presented with information about how much interest they will pay if only minimum payments are made — information currently required on credit card statements under the CARD Act — they are more likely to pay only that minimum amount and no more, increasing both the duration of their indebtedness and the amount of interest they eventually pay. http://moneyland.time.com/2011/11/17...ivate-debtors/ __________________