Money word, in plain English ← Back to all terms
Minimum due
The small amount a card asks you to pay; the rest carries very high interest.
Example. Paying only the minimum due can turn a small bill into a large debt.
The minimum due is the smallest amount your credit card asks for each month. Paying only that keeps the account regular, but the unpaid rest carries very high interest, which is how card debt snowballs.
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