Minimum Payment

[beb86]

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@distantarray wrote:

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@YoungJay18 wrote:

like if i have a 750 balance and 25 is min if i pay the 25 will i get a 750 credit line again for the next month but continue to carry the balance

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wow I'm glad you came to the boards to ask.... If you have a credit limit of $750 and you spent $750  if you do the minimum payment of $25 your look at $725 balance

(if no interest rates are accessed, remember most credit card companies do not charge interest for a grace period Amex gives you 25 days before interest is charged.)

So you would only have a balance of $25 usable credit.

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Could you imagine the type of trouble people would get into if that were the case?? 

[distantarray]

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@beb86 wrote:

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@distantarray wrote:

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@YoungJay18 wrote:

like if i have a 750 balance and 25 is min if i pay the 25 will i get a 750 credit line again for the next month but continue to carry the balance

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wow I'm glad you came to the boards to ask.... If you have a credit limit of $750 and you spent $750  if you do the minimum payment of $25 your look at $725 balance

(if no interest rates are accessed, remember most credit card companies do not charge interest for a grace period Amex gives you 25 days before interest is charged.)

So you would only have a balance of $25 usable credit.

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Could you imagine the type of trouble people would get into if that were the case?? 

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LOL then I would understand the national debt 100% since the national debt is about $50,000 per person x 300 million people including infants to senior citizens

[beb86]

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wow I'm glad you came to the boards to ask.... If you have a credit limit of $750 and you spent $750  if you do the minimum payment of $25 your look at $725 balance

(if no interest rates are accessed, remember most credit card companies do not charge interest for a grace period Amex gives you 25 days before interest is charged.)

So you would only have a balance of $25 usable credit.

---

Could you imagine the type of trouble people would get into if that were the case?? 

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LOL then I would understand the national debt 100% since the national debt is about $50,000 per person x 300 million people including infants to senior citizens

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Buy 1 get 30 free haha

[calihlove75]

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@distantarray wrote:

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@YoungJay18 wrote:

like if i have a 750 balance and 25 is min if i pay the 25 will i get a 750 credit line again for the next month but continue to carry the balance

---

wow I'm glad you came to the boards to ask.... If you have a credit limit of $750 and you spent $750  if you do the minimum payment of $25 your look at $725 balance

(if no interest rates are accessed, remember most credit card companies do not charge interest for a grace period Amex gives you 25 days before interest is charged.)

So you would only have a balance of $25 usable credit.

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lol, I think it's cute. My younger brother did not know anything about credit cards. His first year at Brown University, he used a credit card for the first time in his life and thought he would make his payments to the bookstore he purchased the books at !!