Minimum Monthly Credit Card Payment

The minimum monthly credit card payment is the lowest amount of money that is required to be paid on a credit card account each month.  For credit card holders that carry a balance on their credit card, there will be a minimum amount due each month, which will be on the statement.  When an applicant fills out the credit card application, the credit card agreement indicates that the card holder will agree to pay a minimum credit card payment each month.  The minimum monthly credit card payment will be the amount a cardholder can pay to keep the credit card account from being delinquent.  The minimum monthly amount is based on the percentage of the outstanding credit card balance or a minimum fixed dollar amount.  Each credit card company can calculate this amount independently, but it is usually between 3-5% of the outstanding credit card debt.