← CardLabGuide
Overview
The two key dates
  • Statement date
  • Due date
  • Grace period
What you owe
  • Statement balance vs. current balance
  • Minimum payment
  • Credit limit & utilization
What it costs
  • APR & interest
  • Cash advance
  • Rewards vs. interest
What you owe

Minimum payment

The smallest amount you can pay to stay current. It’s designed to be small, often mostly interest and fees.

Pay only the minimum and your balance barely moves. That’s the “minimum payment trap.”

A little more than the minimum, paid consistently, saves months and interest.

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