Minimum Payment

The smallest amount you can pay each cycle without being marked delinquent.

Paying only the minimum is the most expensive way to use a credit card. On a $5,000 balance at 22% APR, minimum payments alone take 25+ years to clear and cost over $9,000 in interest. The minimum keeps you current; the statement balance keeps you out of debt.

Reviewed by the ClearValue Editorial Team.