Is there a different policy that bank practice in generating minimum payment for a credit card balance? I have two credit cards with 0% interest APR going on both of them. I have similar credit card balance ( say for example X) on both the credit cards. One Bank is charging me 1% of X as the minimum payment and other bank is charging me 3% of X. I am in California. Does anyone know if there is a fixed / general rule in determining minimum balance for the customers?


1 Answer 1


Entirely up to the bank and may be different for different customers. If it bothers you, shop around for a better offer.

Personally I believe that nobody should ever be making only the minimum payment, so I would ignore that number.

  • 3
    It's not completely up to the bank since there is some regulation, but this answer is basically correct. (Especially the part about it being a bad idea to make just the min payment.) At the link here, there's some information about the regulation and also a survey of fees from a few banks. creditcards.com/credit-card-news/…
    – user32479
    Mar 14, 2016 at 15:10

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