What is Minimum Due in Credit Card?
A common question many credit card users have is: “What is minimum due in credit card?” Let me break it down for you in simple terms.
The minimum due is the smallest amount you need to pay your bank by the due date to keep your credit card account active and avoid late fees. It’s usually around 5% of your total outstanding amount, and includes any EMIs or previously unpaid minimum dues if applicable.
For example, let’s say your credit card bill for the month is ₹20,000. Your bank may ask you to pay a minimum due of just ₹1,000. Now, you don’t have to pay the full ₹20,000 immediately, but paying at least ₹1,000 will make sure you aren’t marked as a defaulter.
But if you pay only the minimum due, the remaining amount will attract interest charges, and these can quickly add up. So, while minimum due is a good option if you’re low on cash one month, it’s always better to pay the full bill to avoid interest piling up.