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I'm using an ICICI bank credit card, and there are two amounts of importance that are visible on the online dashboard: Current Outstanding, and Minimum amount due. I did a transaction of Rs. 1500 on a trial plan and got it refunded in 14 days by cancelling the trial. Hence, my current outstanding is 0.

However my minimum amount due is still Rs. 100 for some reason. Today is the deadline for my credit card bill payment, so should I pay the minimum amount due or not?

If yes, I ask why, as the current outstanding is just 0?

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  • Is it just the monthly fee of the card? – usr-local-ΕΨΗΕΛΩΝ Apr 8 at 13:30
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    Did the "bill date" (when they look at the balance and calculate the minimum payment) fall between spending Rs. 1500 and having it refunded? – TripeHound Apr 8 at 14:05
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I've been in this exact situation before with 2 different banks. With one of them, the minimum payment updated to say $0 due, which is what you'd expect. With the other, the minimum payment was on auto-pay and it still went through which created a short-lived credit. Since it was a card I regularly used I didn't care, as the credit was used up within days.

I would contact your bank's customer service number (or use the live chat feature if they have it on their website) and simply ask them if you still need to pay. If you can't get a hold of them, and if you intend to use the card more in the near future, I'd probably just pay it regardless, since it doesn't hurt you to do so.

Most likely you don't have to pay it, but I wouldn't bother risking it unless the amount of the minimum payment is hard for you to come up with, or you don't think you'll be using the credit card again anytime soon.

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    If one of my credit cards did this, I would instantly cut it up. – Robert Harvey Apr 9 at 0:46
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    @RobertHarvey I don't know if it's that cut and dry. I suspect timing may be related. But it's not as if they're taking your money and keeping it. If you ever end up with a credit that you don't use, you may request a refund check, or they'll typically send you one automatically after approximately 90 days. Similarly, I have all of my CCs setup to auto pay the minimum on the due date. With one of them, even when I pay the entire statement balance prior to the due date, the minimum still comes out as scheduled. Perhaps next month I'll test paying the entire balance first to see what happens. – TTT Apr 9 at 1:43
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    @ttt, I've had it happen both ways - once, the min amt was still deducted on autopay when I paid the balance off 2 days ahead of due date and another where the system was "smart" enough to see the payment and not charge me. As you said, it is probably a timing issue. – RiverNet Apr 9 at 2:00
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    @TTT My bank [in the UK] does that. Even if I pay off the entire balance including what#s been incurred after the statement date, they still take the minimum payment. Up till a couple of years ago, they used to reduce the automatic minimum payment by any "manual" payments made. Now it's up to customers to do that calculation. – Andrew Leach Apr 9 at 8:24
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You can always pay it now to avoid the possibility of a late fee (even though you shouldn't actually even owe at the moment) and then contact customer service to follow up.

At worst, they'll post your payment and you'll have an unused credit of what you paid. As best they'll offer to refund the money.

The important point is, you don't want to jeopardize your credit standing with the bank, so it's best to pay it to make sure YOU don't have a consequence that may not be as easy to fix as you think it should. Paying it now gives you the luxury of time to sort things out without running the chance of a negative hit on your credit.

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