You can find the minimum payment on a credit card by looking at your monthly statement. Additionally, you might find this information in your online banking account, or by calling the number on the back of your card.
The minimum payment is calculated differently by each issuer, but it’s generally a fixed amount or a percentage of the cardholder’s balance plus interest and fees, whichever is greater. For example, the minimum payment for a Chase credit card is $35 or 1% of the statement balance plus interest and late fees, whichever is greater. By paying this amount each month before your due date, you can keep your account in good standing. Bear in mind, though, that in order to avoid interest charges, you must always pay back what you owe in full.
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