The Chase Ink Business Unlimited credit card’s minimum payment is 2% of the statement balance or 1% of the statement balance plus interest and fees, whichever is greater. In addition, if you miss a payment, Chase may add a late fee to your next minimum payment.
The minimum payment is the smallest amount you’re obligated to pay by the due date for your Chase Ink Business Unlimited account to be in good standing. To avoid paying interest, you’ll want to pay your balance in full each month rather than just the minimum.
Your 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 are obligated to pay each billing cycle in order to keep your account in good standing. If you don’t make at least your minimum payment by the due date,...
No, making just the minimum payment on a credit card does not hurt your credit score, at least not directly. It actually does the opposite. Every time you make at least the minimum credit card payment by the due date, positive information is reported to credit bureaus. Plus, the exact amount you pay doesn’t factor into the payment history portion of your credit score. It’s simply noted that you’ve made a payment on time.
If you don’t pay your credit card bill at all, you will likely get charged a late fee, lose your grace period, and have to pay interest at a penalty rate. Your credit score will also go down if you fall at least 30 days behind on a credit card bill payment. If you continue to not pay, your issuer may close your account. But you’ll still be responsible for the bill.
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