How Are Credit Card Minimum Payments Calculated? – Credit Card Insider
Today’s question is: How Are Credit Card Minimum Payments Calculated?
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Each month that you carry a balance, a minimum payment will be required from your credit card issuer. This is usually 2% or 3% of your total balance, but many issuers also have a requirement that you pay at least $25 or $35 each month. There may be certain occasions, however, where your minimum payment could go up drastically.
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