BUSINESS
03/18/2010 05:12 am ET | Updated May 25, 2011

Man's Monthly Credit Card Payment Jumps To $1,300

Paul Baker was smacked with a rude surprise when he opened a notice from his bank informing him that his minimum monthly payment had skyrocketed from $560 to more than $1,300.

The 31-year-old Stephenville man didn't have one of those toxic subprime mortgages with a teaser rate that suddenly reset. It was a Chase Freedom credit card

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