How much is the Chase Freedom Unlimited minimum payment?

The minimum payment on a $2,000 credit card balance is at least $20, plus any fees, interest, and past-due amounts, if applicable. If you were late making a payment for the previous billing period, the credit card company may also add a late fee on top of your standard minimum payment. The exact formula your credit card’s issuer uses to calculate minimum payments is available in the card’s terms and conditions.... read full answer

Minimum Payment on a $2,000 Credit Card Balance by Issuer

Note: Amounts above do not include interest and fees, which may be applied.

Key Things to Know About Credit Card Minimum Payments

• The minimum payment is the smallest amount you’re required to pay by the due date for your account to be in good standing.
• Late or missed payments will not only raise your minimum payment amount, but they can also cause significant damage to your credit score.
• Your minimum payment will be listed on your monthly credit card statement and online account summary.
• Credit card issuers are required by law to publish a chart on your credit card statement that projects how long it will take you to pay off your credit card balance just by making the minimum payment, and how much that will cost you in interest charges.

Paying off a credit card balance by only making the minimum payment required can be quite expensive. To see for yourself, try WalletHub’s credit card minimum payment calculator.

The Chase credit card minimum payment is either $40 or 1% of your statement balance plus any interest and late fees, whichever is greater. If your balance is less than $40, the entire amount is your minimum payment.

A minimum payment is the lowest amount you can pay each billing cycle for your account to remain in good standing. If you don’t make at least your minimum payment by the due date, you’ll be charged a late fee up to $40. And if you fall two minimum payments behind, it will hurt your credit score.... read full answer

Here are the Chase credit card minimum payments:

• Balance less than $40: Minimum payment is the full statement balance. For example, if your statement balance is $12.95, your minimum payment is $12.95, too.
• Balance up to $4,000 (interest + fees included): Minimum payment is $40.
• Balance of more than $4,000 (interest + fees included): Minimum payment is 1% of the statement balance, including any past-due amounts, interest and late fees.

Your Chase credit card minimum payment will always be included in your monthly statement. It’s also available when you log in to your online account. Plus, the formula Chase uses to calculate the minimum payment due is listed under the rates and fees table on your cardmember agreement. Chase uses the same minimum payment calculations for all of its credit cards.

Making your Chase credit card minimum payment on time every month keeps your account in good standing. But if you want to avoid paying interest and getting into debt, you’ll need to pay off your entire balance each month.

The Chase Freedom Flex minimum payment is $40, or 1% of the new balance plus any interest charges and fees, whichever is more. If the statement balance is less than $40, then that balance is the minimum payment amount due for Chase Freedom Flex cardholders. The minimum payment is listed on each monthly billing statement and the online account page.... read full answer

Chase Freedom Flex Minimum Payment

• Balance below $40: Minimum payment equals balance
• Balance of $40 to $4,000: Minimum payment equals $40
• Balance over $4,000: Minimum payment equals 1% of the balance, plus interest and fees

Chase gives you at least 21 days after the close of each billing period to make a payment on your Chase Freedom Flex account. You’ll avoid late fees as long as you pay at least the minimum amount before the due date, and you’ll also avoid interest charges if you pay the statement balance in full by the due date every month.

However, when you carry a balance to the next month, you will lose the interest-free grace period between the end of a billing period and the due date. Your balance will accrue interest daily until you pay it off, and you will need pay off the entire balance for two straight months to restore the grace period.