Credit card minimum payments are usually calculated as a percentage of your balance (often 1–3%) plus interest and fees, or a fixed dollar amount (like $25)—whichever is higher. Check your statement for the exact formula.
Check your monthly statement—minimum is usually a percentage of the balance (e.g., 2–5%) or a fixed dollar amount, whichever is higher. Some cards also include interest and fees. Paying only the minimum avoids late fees but extends repayment and increases interest costs. Alway
