With gas prices at more than $3 per gallon and threatening to go higher before they come down; Americans are feeling the "pain at the pump."

As if the pressure of rising gas costs isn't enough; according to a recent article in the San Jose Mercury News, banking regulators recently issued new guidance on repaying credit card debt that includes increasing minimum payments.

Traditionally, low minimum payments have been the blessing and curse of having a credit card. On one hand consumers paid only pennies on the dollar of the debt they racked up making the monthly payment seem easier to handle, especially with balances owed on more than one card. On the other hand, making such low payments keeps consumers in a cycle of debt that doesn't seem to have an end in sight.

Banks are expected to implement the change by the start of 2006, right after the holidays when consumer balances are usually at there all time high.