What is PenFeds Minimum Payment Percentage?

[jthompson5254]

I called them before I opened an account and they said it was 2%. I now have a $10K and they are only requesting a $125 minimum payment which is like 1.1% (the percentage doesn't even make sense). I'm not complaining but its weird that its so low especially when they quoted me 2%. BTW before people start telling me that I will never pay it off paying $125 a month. I am not paying that, I'm paying $220 which is what I thought the minimum payment was going to be.

[score_building]

Sorry- but planning on paying the min., even at 2% is still generally not a good plan, YMMV.

Paying at least 6% when possible is going to put some traction on the pay down schedule.

[jthompson5254]

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@score_building wrote:

Paying at least 6% when possible is going to put some traction on the pay down schedule.

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Since I'm currently unemployed, it is not possible. However I'm working on correcting that and I'm currently going to training at my local community college for a job in the healthcare field which is being paid for by Unemployment. 

[Anonymous]

I have not had a minimum due on either of my PenFed accounts in more than 6 months.  dunno why.