Learn what the minimum payment is on a credit card in this video.

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A credit card minimum payment is defined as the least amount of money you can pay towards your credit card balance each month to keep the account in good standing. The minimum payment on a credit card is typically a percentage of your total credit card balance and will likely vary month to month. If you only pay the minimum balance each month, the remaining balance may be subject to interest, depending on your credit card’s terms. If you don’t pay your minimum credit card payment, you could be subject to late fees and other penalties, and it may negatively impact your credit score.

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