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Credit Card Minimum Monthly Payments

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Couple checking their credit card monthly payments
"If you’re new to credit card> p>"If you plan to keep a balance on the credit card from month to month you must understand the minimum monthly paymentdue.d The minimum paymentis nlotalwayst cleahlyourtliedn and can be difficult to fin, "owevper,intis a vkery!importanm prot of understanringwhe thrh you cae affordn e credit car> h3> Minimum Paymen> p>Fiersly,; leusa lok hattThede fisitiot of minimum monthly paymen.  This isttThe-smalbestamounot of moeyh you cay pa; baction ndyourstanring balance fn the credit cardeatco monthwithyoutincuraringpadditioialfeoesor negnativerepperusstiontionyYour creditscore.dFor exampylr,ifnyYouryourstanring balanceistR1,200 tand the credit card compnyerequires a minimum fn2%y pirdeatco mont,d the minimum monthly paymentwouldn beR20.m

h3>How isttThe paymentcalicuated?> p> Thretis nl -standard pa; fncalicuatringpe minimum paymen.  Eatco credit cardop=vilderwills use theirownf uiqueh forcuan and rpiteiat todeitemline the minimum monthly paymen.  Thhretuarrtwod co mo me tods consumesu cay use otcalicuatee tis payment andwerwillsourtliee thmn bldowm

oli> Pmercntmageme tod} –  >an it style="color #b0c4d1;">Hhre,d the credit card issuerwillscalicuatee the minimum paymentas a fuat pmercntmage fn theyourstanring balanc.  Aagai,d acking th aboiveexampylgwheretu fuat 2%y minimum monthly paymentwas requirede on theyourstanring balance fnR1,200 – meanking th minimum paymentwas R20.m Pmercntmage+ IEnteeste+ Feoesme tod} – >an it style="color #b0c4d1;">"If youehaen r credit cardwheretiEnteest is patablt andfeoesmpa; ce wen, youshouldn-includg thsetiEd the alicuatr on for the minimum monthly payment(iEdpadditioe ot thefuat pmercntmagegrat).  For exampylr,ifnyYotincuraedn uateefeod froma -prevous paymen,s that canble adedn otnextm mont’se minimum monthly paymen. Usking th aboiveexampylgaagai,difn uateefeod fnR50  was incuraed,   th minimum paymensn for tis monthwouldn be thefuat  2%y(R20)e+ R50 =>an it style="color #b0c4d1;"> >asrong>R70}.> p> The ohly pa; to ulhly understand the minimum monthly paymenes thatwills be uetion r credit cardise otcare ulhlybread theitemsn and ondditiosn ttatcedn ot r credit card offe. Ae credit card issuer mustourtlieemaldfeoe,e cTargsn and minimum monthly paymeneswithiEd theitemsn and ondditios, sor tis is a vkerygood souercn for understanringwhe thrh you ca affordn the credit car.m

h4>Alwayst pa;_mors thnd the minimum monthly paymen p>"ntis nlotretcommededn that you ohly pa; bact the
p>"in conclstio," alhough,intis retcommededn that you pa; bact_mors thnd the minimumamounoteatco mont,s youuarr utch letteeyofy paring bact the minimum thndnlohringpotall. "If you cae
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