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Minimum payment for credit cards

  • Updated

The minimum payment for a credit card is the lowest amount you can pay towards your statement to keep your account in good standing. Minimum payments are typically $10 plus any outstanding interest charges, fees, and overdue amounts.

View your minimum balance

The minimum payment for your credit card is available in your monthly statement. Here’s how to view your statements online.

How the minimum payment is calculated

The minimum balance due for each statement will be equal to:

    1. $10.00 or the current balance (whichever is lower)
    2. Plus all outstanding interest charges and other fees (like annual fees, overlimit fees, or cash advance fees)
    3. Plus any amount that is overdue

If the new balance indicated on the statement is less than $10, then the balance must be paid in full by the payment due date shown on that statement.

Refunds don’t go towards the payment

If you received a refund, those funds aren’t considered a payment toward your credit card. You still have to make at least the minimum payment.

Minimum payment and interest charges

You need to pay at least the minimum payment for every statement to keep your account in good standing. If you choose to pay the minimum payment or a partial payment, you’ll be charged interest and the remaining balance will be carried over to the next statement.

To avoid interest charges, pay your credit card balance in full every month.

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