Consumers Face Higher Credit Card Payments in 2006

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Shoppers pay for purchases at a Kmart in Norridge, Ill., Dec. 19.

Shoppers pay for purchases at a Kmart in Norridge, Ill., Dec. 19. hide caption

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Banks are raising their minimum monthly payments in January, a change intended to protect consumers from piling up credit card debts that can last for decades. But the higher minimums, along with interest rates that can be raised for late payments, mean consumers could be facing bigger credit card bills next year.

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