What is the U.S. Bank Business Triple Cash minimum payment?

The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® interest rate is 18.74% - 27.74% (V), with the actual rate depending on factors such as your income, credit history and existing debt. The U.S. Bank Business Triple Cash card also offers new cardholders an introductory interest rate of 0% for 15 billing cycles on purchases and 0% for 15 billing cycles for balance transfers. After the card’s intro rate expires, the regular interest rate applies to any remaining balance. The regular U.S. Bank Business Triple Cash card interest rate is variable, meaning it can change based on certain economic conditions.... read full answer

U.S. Bank Business Triple Cash gives you a 24-day grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card’s payment due date. You won’t owe any interest as long as you pay your balance in full during that timeframe. Should you decide to carry a balance on your U.S. Bank Business Triple Cash card, it will accumulate interest daily at the card’s regular APR. Interest is compounded, meaning you will owe interest on both the principal balance and any interest already accumulated.

In addition to the regular interest rate, U.S. Bank Business Triple Cash also charges a separate 29.99% interest rate on cash advances and a penalty rate for late payments. All U.S. Bank Business Triple Cash card interest rates will be listed on your statement and on your online account summary.

U.S. Bank reports to the credit bureaus monthly, within days after the end of a cardholder’s monthly billing period. U.S. Bank reports a credit card’s credit limit, account balance, payment history, and more to all three of the major credit bureaus: TransUnion, Equifax, and Experian. U.S. Bank may use a certain credit bureau more than another, though, depending on the applicant’s home state and other factors.... read full answer

Once U.S. Bank reports your account information to the credit bureaus, it may take a few days before the updates appear on your credit report. New U.S. Bank cardholders may not see any new credit account info on their credit report for one or two billing periods after first getting a card.

If you’d like to review your up-to-date credit score and TransUnion credit report, you can sign up for a free account on WalletHub. That way, you’ll be able to check every day to see if there’s any new information from U.S. Bank on your credit report.

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.... read full answer

What you should know before making just the minimum payment:

• There is a way your credit score could eventually be impacted by only making minimum payments, because it results in a high credit utilization.
• Credit utilization is the percentage of your total available credit that’s being used, or your debt-to-credit ratio.
• If you make a habit of racking up more credit card charges than you can pay for every month, you’ll end up with high utilization.
• Credit-scoring companies see credit utilization over 30% as a negative. To what degree high utilization will affect a credit score depends on your personal credit history and which scoring model is used. But it’s safe to say your debt-to-credit ratio accounts for 20% or more of your credit score.
• If you don’t have much credit history, high utilization will have a greater impact on your score than it would for someone with a diverse and lengthy credit history.

Paying only the minimum amount due on your credit card may seem cheaper in the short term, but you’ll pay for the convenience in interest. Plus, it could reach a point where even the minimum payment is unaffordable. On that note, be advised that credit card payments below the minimum amount due don’t count as on-time payments. And not making the minimum payments can spell real trouble for your credit score.

So, regularly paying only the minimum on a credit card could hurt your credit score in the long run. That’s because it could lead to you spending beyond your needs and racking up more debt than you can afford to repay.