What is minimum payment on credit card

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Atm fairfield central	The longer you carry a balance, the more you pay in interest, which can become a major drain on your budget. The minimum payment could be a percentage of the balance, plus new interest charges and late fees. Whenever possible, the best approach is to pay your balance in full. Making the minimum is absolutely essential to stay in good standing. You might be able to lower your balance if you stop using the card while continuing to make your minimum payments. Yes, it can. Need to meet?
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How Credit Card Interest Works: The Math
The minimum payment on your credit card is typically calculated as either a flat percentage of your card balance or a percentage plus the cost. Credit card issuers typically require you to pay a certain percentage of your statement balance as the minimum payment, often around % of the. How much is the minimum repayment? � The threshold amount is $75 (rather than $25); and � The minimum payment percentage is % (rather than 2%).