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Credit Card Minimums Increased to Promote Better Financial Practices

By: TaoCredit Staff Published: March 31, 2011

Canada's sixth largest financial institution in deposits, Desjardins Financial Group prepares to increase the credit card minimum monthly payments from three percent to five percent. The change is Desjardins most recent attempt to promote good financial practices from its customers.

The larger six banks typically charges approximately two to three percent on unsettled credit card balances. Desjardins was one of the first of the large banks in Canada to increase the minimum monthly payment.

The Montreal cooperative is holding their yearly general meetings in Quebec City this coming weekend. Desjardins is hoping to change today's credit practices by promoting the value of saving and financial responsibility.