Maria Adams, Credit Cards Moderator
@m_adams
The minimum payment for a Mastercard credit card depends on the issuer. As a card network, Mastercard is more about where the card is accepted than anything else. The minimum payment is calculated differently by each issuer, but it's generally a fixed amount or a percentage of your balance plus interest and fees, whichever is greater.
The minimum payment on a credit card is the lowest amount of money you can pay each billing cycle to keep your account’s status “current” rather than “late.”
Where to Find Your Mastercard Minimum Payment
You can find the minimum payment on a Mastercard credit card by looking at your monthly statement. Additionally, you might find this information in your online banking account, or by calling the number you see on the back of your card.
Paying off a credit card balance by only making the minimum payment required can be quite expensive. You can use WalletHub's credit card minimum payment calculator to find out how long it would take to pay off your debt by paying the minimum amount due each month.
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