topic Re: Citi Minimum Balance in Credit Cards

Citi Minimum Balance

Anonymous — Sat, 05 Dec 2009 12:41:48 GMT

I checked my Citi acct this morning and noticed my statement balance and minimum balance due were the same, $17.60. Has anyone else noticed this on his/her Citi acct? Does it have to do with the statement balance being so low that it's an either/or kind of thing and $17.60 would be the higher of the two payment options calculated in the Citi agreement? It just struck me as odd.

Re: Citi Minimum Balance

Anonymous — Sat, 05 Dec 2009 12:49:04 GMT

Hello,

I don't have a Citi acct, but usually CC minimum payments have an either/or calculation. It's either a certain percentage of the balance, or if the balance falls below a certain threshold, the minimum payment will equal the balance. I've usually seen the threshold amount at $15, but it's certainly possible that an issuer would specify a higher amount.

I hope this helps.

Re: Citi Minimum Balance

DI — Sat, 05 Dec 2009 16:56:33 GMT

I had a balance like that with my GM card for $15.80 last month. They made the entire balance due by the due date. If your statement balance is extremely low...I think most banks will make the total balance due by the due date.

Re: Citi Minimum Balance

Anonymous — Sat, 05 Dec 2009 22:28:07 GMT

Thanks for both of your responses! I appreciate it.