Sydney Garth, Credit Cards Moderator
@sydneygarth
According to the Discover sample terms and conditions, the Discover it® Cash Back minimum payment is any past-due amount plus $35, $20 plus any interest and fees, or 2% of the statement balance – whichever is higher. If the statement balance is less than $35, the Discover it Cash Back minimum payment will be equal to the balance. In addition, if you recently missed a payment or exceeded your credit limit, Discover may add a late fee or the overlimit amount to your minimum payment. Please note that the Discover it Cash Back minimum payment is not standard for all applicants and may vary.
The minimum payment is the smallest amount you’re obligated to pay by the due date for your Discover it Cash Back account to be in good standing. Failure to pay by the due date may result in a late fee. Your credit score will also take a hit if you miss multiple minimum payments.
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