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A rewording: how can I know how much a ccs minimum payment is?

Established Member

A rewording: how can I know how much a ccs minimum payment is?

I wasn't thinking before when I posted asking how ccs compute the minimum payment. What I'd really like to know is how do I know how much a ccs minimum payment is? I gather it's typically a percentage of the total balance, but that the % used varies from card to card.

Is it stated in the card's terms & I've been missing it, or will I need to call a particular card to get that info?
Message 1 of 11
10 REPLIES
Valued Contributor

Re: A rewording: how can I know how much a ccs minimum payment is?

Probably best to call the ccc...here;s an article on the federal rules that bumped up the minimums a couple years back: http://www.consumeraffairs.com/news04/2005/occ_credit_card_minimum.html
- - - -
in a credit-scoring postnuclear Stone Age...
Message 2 of 11
Regular Contributor

Re: A rewording: how can I know how much a ccs minimum payment is?


"Since you refuse to reveal the location of your hidden AUs, we have decided to test the new FICO 08 scoring system's destructive power on your home planet of Alderaan."

Ok, in the words of Larry the cable guy...  "I don't care who ya are...Thats funny right there.

 

Van

 

FICO 6/25/08 TU 668 EQ 646 EX 652
FACO 6/25/08 TU 655 EQ 622 EX 641
Recovering from the App Spree that dropped me like a rock. Post Car loan apps as well.
.
Message 3 of 11
Established Member

Re: A rewording: how can I know how much a ccs minimum payment is?

"Since you refuse to reveal the location of your hidden AUs, we have decided to test the new FICO 08 scoring system's destructive power on your home planet of Alderaan."

There must be a joke in there somewhere about how resistance is futile.
Message 4 of 11
Moderator Emeritus

Re: A rewording: how can I know how much a ccs minimum payment is?

Yes, it's typically in the T&C.  But not the short version you get with an online app.  IME, it's spelled out in the longer print version they send to you when you get the card.
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 5 of 11
Established Member

Re: A rewording: how can I know how much a ccs minimum payment is?

Ahh, very clever, those landsharks, to not tell you exactly what's what until *after* you've signed up.
Message 6 of 11
Moderator Emeritus

Re: A rewording: how can I know how much a ccs minimum payment is?

Yep, that's typical.  Heck, you don't even get to know your CL or APR, and sometimes even your AF until it's all said and done.
 
ETA: LOL @ landsharks


Message Edited by cheddar on 12-05-2007 10:59 PM
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 7 of 11
Established Member

Re: A rewording: how can I know how much a ccs minimum payment is?

Can't take credit for the word though I wish I could :-). In case it's from before your time-& please pardon me if it isn't!-it's from a priceless SNL skit. It might be on YouTube, & if it isn't it should be.
Message 8 of 11
Moderator Emeritus

Re: A rewording: how can I know how much a ccs minimum payment is?



dazed wrote:
Can't take credit for the word though I wish I could :-). In case it's from before your time-& please pardon me if it isn't!-it's from a priceless SNL skit. It might be on YouTube, & if it isn't it should be.

Oh, I'm well aware.  Smiley Tongue  It was the reference I was laughing at, more than the word itself.
 
Pretty appropriate in that context.  You don't find out it's a landshark at your door until you open it up and let him in. Smiley Happy
 
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 9 of 11
Established Member

Re: A rewording: how can I know how much a ccs minimum payment is?

Absofreakin'lutely!
Message 10 of 11