InvestorQ : What is a credit card’s minimum amount due amount?
tanvi Patel made post

What is a credit card’s minimum amount due amount?

Answer
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2 years ago
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The minimum amount due, as the name suggests, is the minimum amount you are allowed to pay by your credit card company to avoid paying late payment penalty.

This facility is especially helpful for those individuals who have liquidity crunch but don’t want to adversely impact their credit history.

Thus, by paying the minimum balance, you buy yourself some breathing space with respect to your repayment amount.

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