Lost in Translation: 'Minimum Amount Due' Can Curb Monthly Credit Card Repayment

Minimum payment and other information on monthly bills fails to inspire larger payments among US and UK cardholdersCHESTNUT HILL, MA (11/7/2011) – Credit card customers are likely to pay less toward their credit card debt because their monthly bills display information about the minimum required payment amount, American and British researchers report in the current edition of the Journal of Marketing Research. For many debt-laden consumers, printing the minimum required payment information on their account statements can reduce the amount they pay each month by as much as 24 percent –