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Credit Card Min Monthly Payment Calculation

Posted by mattw mattw
Message 1 of 4 956 Views

Good morning,

 

I am looking to estimate what my min monthly repayments would be during a zero interest period for a business credit card.

 

Have phoned and asked various people with no luck, so hoping you can give an idea of how this is done.

 

I am not looking for an exact figure, i will get that monthly in any case, this is to allow an estimate of what that payment will be based on average monthly balance.

 

Many thanks in advance

 

Matt

 

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Re: Credit Card Min Monthly Payment Calculation

[ Edited ]
Posted by DanaeC DanaeC
Message 2 of 4 951 Views

Hey @mattw, thanks for getting in touch with us. As you have mentioned, your minimum monthly repayment will vary based on the spend made within the statement period. Generally speaking, this is based on approximately 2.5% of the statement balance - I hope this is what you're after!

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Re: Credit Card Min Monthly Payment Calculation

Posted by mattw mattw
Message 3 of 4 950 Views

Yep, that's what I was chasing.


Cheers

 

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Re: Credit Card Min Monthly Payment Calculation

Posted by DanaeC DanaeC
Message 4 of 4 946 Views

Have a great night @mattw, let us know if you have any further enquiries Smiley Happy

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