Discover Card minimum payments question!

[Anonymous]

     Hello All,

So i normally pay off all of my cards in full other then 1 card i keep a ballance of 30% on. Well this month its been a little tough sense i moved my dad in with us.. So this month i think im only going to be able to pay the minimum on my Discover Card..

I was reading on how CC companies calculate your minimum payments but if im reading right it seems like there is a few modles that can be used and each CC company uses a different method to calculate your minimum payments. Im not sure i get it 100%

So could anyone give me a rough estimate of what the minimum payment would be on a $70 ballance?? If everything pans out im going to pay it off in full like i always have or at least pay more then the minimum payment then pay off the remainder before the cut off date..

However right now i would like to try and get a rough estimate on what my minimum payment would be.

Thanks In Advance

~ Shawn

[Anonymous]

I think the minimum payment on Discover is $35. Someone please correct me if I’m wrong.... I’ve only let a balance report twice, but I think the min was $35. 

[Anonymous]

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@Justagirl73 wrote:

I think the minimum payment on Discover is $35. Someone please correct me if I’m wrong.... I’ve only let a balance report twice, but I think the min was $35. 

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Sweet deal.. I will be able to give them more then that.. I hope everything pans out in time where i can just pif like i normally do.

Thanks

~ Shawn

[Anonymous]

35 affirmative 

[Anonymous]

I can also confirm that $35 is the minimum.

[Anonymous]

 Thanks everyone for the knowladge for what the payment would be.. I called Capital One and the rep told me they will be lifting the security hold off my pay check Monday.. Im not sure why they even put 1 on it to begin with its from the same company and for the same amount that i always deposit from my pay check, At the most all they have ever done is split my check up into like 2 deposits and place a 2 day verification hold on it.

So i dont know what this 2 week security freeze was all about.. I can say after moving my dad in with us then Capital One doing that it really had me on the stressed side.

My girlfriend was telling me to just go and take out a payday loan until they took the hold off my check but to me the word payday loan is like a very evil cuss word..

Thanks Again

~ Shawn

[AlexisMachine]

My balance was $153.00 and the minimum payment was $20.00.

[gabeerwin]

My sept statement balance was $453 and my minimum payment was $20.

[CreditInspired]

From: https://www.discover.com/credit-cards/cardmember-agreement/payments.html

Your Minimum Payment Due is based on a number of factors such as your outstanding balance, APRs, as well as any late fees and past due amounts. Because these factors can vary, so can your Minimum Payment Due.

[HeavenOhio]

The bottom line is that with a low balance, your minimum payment is going to be low. Most cards seem to have a rock-bottom minimum of $25. A few are still at $15, and some are at $35. And the posts above indicate that sometimes, Discover's might be $20.

Just as an example, Capital One's lowest minimum payment is $25. Looking at a couple of my old statements, on a balance of just under $1,000, my minimum payment was still $25. On a balance of just under $4,000, the minimum was $75.