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How is minimum monthly payment for a credit card determined if you always pay your bill off in full each month?

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spider2928 Joined: 27 Jan 2010 Posts: 6 2.62 Dollars($)	Posted: Wed Jan 27, 2010 9:56 am    Post subject: How is minimum monthly payment for a credit card determined Like 0 Dislike 0 I know they take 3% of your balance to determine minimum payment if you hold a balance but do they still do this if you pay off your balance in full each month? If so do they use the highest balance you've ever charged on each card and take 3% of that?
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Jan 27, 2010 11:11 am    Post subject: Like 0 Dislike 0 spider if you can demonstrate that you pay in full each month (and you should certainly be able to do so), then a lender won't hit you up for a payment at all. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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