Creditcards/How to figure out minimum paymt?

  1. Sign up to become a TPF member, and most of the ads you see will disappear. It's free and quick to sign up, so join the discussion right now!
    Dismiss Notice
Our PurseForum community is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker. Thank you!
  1. Say you have a balance on a CC of about $1000-1200 :nuts: How do the CC companies figure out your monthly paymt off that? Is it a certain percentage? There is no interest as it's free for the first 6 mos. Just trying to figure out if I can afford the monthly paymt if I go this route.

  2. I believe it's a certain percentage, but different cc companies use different percentages. If you already know which card you'd use for your purcase, I would call them and ask (or check the materials they sent you w/the card. Yeah -- like I keep those handy!). If you're shopping around to decide which cc to go apply for, it should be in the small print of their advertising materials.
  3. I think it's also tied into your interest rate.
  4. I don't know, it's so weird b/c one time I had a balance of over 1000 and my min payment was $30 something and the next month I had paid it all off and only had a balance of like $60 something, and the min payment was $50-something ???