This is the contractual minimum amount you must pay off each month. Generally, this is a percentage of the credit card statement balance. If you only pay the minimum it could take you a long time to p [..]

The minimum payment is the lowest amount of money that you are required to pay on your credit card statement each month. See your credit card "terms and conditions" document to see how your credit card's minimum payment is calculated. Until 2004, minimum payments were commonly as low as 2 percent, which meant that any large balance c [..]

Definition The smallest amount which can be paid on a revolving charge account to avoid a penalty.

A minimum payment is the smallest amount of money that a borrower must pay on a credit card statement for the month. Each credit card company can have different amount that will be due, but the "terms and conditions" document will outline the requirements for how much must be paid. Recently, the minimum payment has been raised from around [..]

the smallest amount you are required to pay a lender each month on a debt.

The minimum dollar amount that must be paid each month on a loan, line of credit, or other debt. See also Minimum Payment

The minimum amount your credit card issuer requires you to pay on the outstanding credit card balance.

In a credit arrangement, the lowest amount that a borrower must pay toward the credit balance each month in order to avoid a penalty.

On a revolving charge account, the smallest acceptable amount of payment. This payment may only cover the interest without reducing the principal preventing debt reduction.

The lowest amount that must be paid each month on a debt such as a loan or credit card.

Minimum payment is the smallest payment amount a creditor will accept on a revolving debt without charging a penalty. Minimum payments are usually calculated as a small percentage (such as 3 percent) [..]

The least amount a person can pay each month.

The lowest amount that can be paid. Usually applies to credit cards monthly

The minimum amount that you must pay (usually monthly).

The lowest amount that must be paid each month on a debt such as a loan or credit card.

The smallest amount that must be paid on a debt, such as a loan or credit card balance.

The smallest payment a consumer can make in a billing cycle to keep the account from going into default.

The smallest payment a consumer can make in a billing cycle to keep the account from going into default.

On a credit card account or loan, a fixed percentage of the balance due which must be paid each month. Related Topics Credit Cards

The minimum payment is the payment you must pay in order to meet the minimum established as part of the University's payment plan and is calculated by taking the current term charges, dividing by the payments remaining for the semester, and adding any charges due in full.

The minimum amount that must be paid monthly on an account. On the HELOC product, the minimum payment is interest only during the draw period. On the Fixed Rate Second products, the minimum payment is principal and interest.