The Citi credit card minimum payment is equal to the balance owed, if it is less than $25. For balances above $25, Citi charges 1% of the balance due for the billing period plus any interest owed, or 1.5% of the balance due, whichever is more. Cardholders must also pay any past-due or over-limit amounts and any late-payment fees.
A Citi credit card minimum payment is the least amount you’re obligated to pay by the due date for your account to remain in good standing. You can pay all or part of your account balance at any time. But if you don’t pay at least the minimum payment by the due date, you’ll be charged a late fee up to $39-$40. And if you make only the minimum payment each month, any unpaid balance will start to accrue interest. Future new purchases will also start accruing interest from their purchase date once you’re already carrying a balance. Paying more than the minimum payment each month will reduce your interest charges. Better yet, avoid interest charges altogether by paying the balance in full, if you’re able.
The minimum payment is listed on each monthly statement. It’s typically due on the same date every month. By law, Citi and all other issuers must include a chart on your monthly statement explaining how long it will take you to pay off the balance (and how much you’ll pay in interest) by making only minimum payments. The chart also tells you how much you’ll need to pay each month to pay off the balance in three years, assuming you don’t make any new purchases.
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