Need help calculating a first payment.
Date: Thu, 11/26/2009 - 20:12
I need to see how much my first credit card payment will be. Can I get help please?
The entire amount that you have spent on the card would become d
The entire amount that you have spent on the card would become due on the billing date. Hence, you can pay the entire bill if you like. However, you can also make 'minimum payment' on the card, which can range between 2% and 5% of the due amount. This is the minimum amount that the customer is required to pay on every credit card bill in order to continue enjoying card benefits.
The debt amount grows on the card if the member pays only the minimum payment and eventually can give rise to a critical debt situation. Hence, it is advised to make more than min payment on every bill.
Hope I was helpful.
