What Is A Credit Card Minimum Payment?
Posted on 30 January 2008 | Category: Glossary
A credit card Minimum Payment is the minimum amount a cardholder must pay to keep the account from going into default. Some card issuers will set a high minimum if they are uncertain of the cardholder’s ability to pay.
Most card issuers require a minimum payment of two percent of the outstanding balance
January 30th, 2008 at 2:00 pm
[…] The best way to avoid paying late credit card charges is to set up a direct debit from your bank account to pay the minimum payment. […]