If your balance is less than $25, your required minimum monthly payment will be equal to your balance. That means if you don't have a balance, you will not be responsible for making a payment. If your balance is above $25, your minimum payment will be the greater of $25 or 1% of your balance, plus fees and interest. So the minimum payment on a $300 balance would be $25, assuming you enter the month without any unpaid fees. You only need to pay the minimum amount by your due date to qualify as having paid on time, and thus avoid both late fees and potential credit score damage. However, you can avoid incurring interest charges if you pay your balance in full every month. For more information, you can reference our guide on How Credit Card Interest Works.
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