On the surface, this e-mail that reader S. received from Sallie Mae doesn’t seem like a bad idea. It’s offering a new credit card, which maybe you were going to get anyway. Use that card’s cash-back rewards to save for a loved one’s college education, or to pay off your own student loans. Yet it doesn’t sit right with S., or with us. [More]
Chase just notified Greg that they’re more than doubling his minimum payment requirement. Because he and his wife are carrying such a large balance due to a promotional balance transfer offer a few years ago, this pushes their monthly payment to nearly $1,000.