How much will i be charged if i dont pay the full amount that i spent and is there a credit card that u can pay the same amount on bill every month.

Answered on June 09, 2018
Updated on June 09, 2018
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller

When you carry a balance on a credit card, your minimum monthly payment will depend on the amount you owe, interest rate and fees. As a rule, you have to pay 1%-2% of your card balance plus new interest and late payment fees (if applicable). If you have any past due amounts, they will be added to the minimum payment as well. So, the more you owe on your credit card, the higher your minimum payment will be. However, you can avoid interest if you pay off the card balance in full each month. Also, there are credit cards with 0% intro APRs that do not charge interest during introductory period. But when this zero introductory period is over, an ongoing APR will apply to the remaining and new balances.

As for the fixed monthly payments, they are not applicable to credit cards. Such a repayment structure is offered with personal loans. Loans usually have a fixed interest rate and fixed monthly payments.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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