Questions tagged [minimum-payment]

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0 votes
2 answers
139 views

How is it possible for an F-1/F-2 visa holder establish a company in the US?

If someone with the F-1(student) or the F-2(Student's dependent) visa is in the US. how can he establish a company in the US? Can he do it standalone(I mean register a company with his own with no ...
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  • 135
8 votes
2 answers
3k views

Should I still pay the minimum amount due even if my outstanding amount is 0?

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 ...
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1 vote
1 answer
154 views

Cannot pay enough to mitigate late/overdue fees on credit card. What is the best way to handle this?

I've tried working with a credit card company over late fees/debt. I can of course make some payments, but they're always lower than the overdue fees they continuously charge. In other words I'm ...
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1 vote
1 answer
762 views

Do automatic payments adjust to manual payments?

I had always paid credit card bills manually, sort of to force myself to keep an eye on things, actively. But finally I decided to set up automatic payments (for the minimum payment), as I had ...
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2 votes
1 answer
117 views

Minimum payment criterion for credit cards

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 ...
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  • 405
1 vote
2 answers
8k views

Refund went through AFTER I received my current statement? [duplicate]

So I bought a blender from Wal-Mart for $100. I returned it a couple days later. My current credit card statement came in the mail and shows the $100 blender was bought. It does not show the refund. I ...
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0 votes
1 answer
910 views

Do I have to make a minimum payment to my credit card even if the balance is $0 after redeeming rewards?

Let's say this month I spent $50 with the card. The statement comes at the end of the month with a $50 balance and a $30 minimum payment required. Let's say I redeem my rewards on the card, which ...
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1 vote
1 answer
160 views

How is minimum payment calculated for this daily amortized loan?

I'm trying to figure out how the bank calculated the minimum payment for a personal loan. Starting Principle: $6,800 Interest Rate: 13.750% Loan Term: 36 months Payment Frequency: Monthly Start Date: ...
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  • 111
2 votes
3 answers
730 views

Reporting a debt with $0 minimum payment on loan application

I am planning to buy a house later this year, and will be applying for a mortgage. I'm aware that part of the application will be reporting the amount I pay now for other outstanding loans (student ...
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8 votes
3 answers
2k views

Are there contracts for fixed pay vs. fixed pay rates?

Are there any contracts that simply pay you when/if you finish a specific project with no mention of a fixed pay/hour? If so, does this mean you can get paid under minimum wage if you take too long to ...
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4 votes
3 answers
1k views

Paying over the minimum mortgage payment

I have a mortgage with Wells Fargo which I just obtained a few months ago for a new home. Due to unexpected circumstances, I am no longer planning on staying in the home as long as I thought I would. ...
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  • 143
4 votes
3 answers
6k views

Can I draw funds from a personal line of credit to pay its own monthly "minimum payment"?

I can guess the answer to this question, but I can't figure out why. So here goes... I've got an unsecured line of credit with a limit $30,000. The annual interest rate is 6%, compounded daily. Every ...
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  • 532
2 votes
1 answer
391 views

Can student loan minimum payments go up upon full repayment of another?

I am in the U.S. and currently paying off student loans. Here is a hypothetical situation that shows what I am asking about: I have 5 loans (all from one financial institution) of $1,000 a piece, ...
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  • 184
4 votes
1 answer
14k views

What exactly are minimum subsequent investment requirements?

I was looking at some mutual funds that list amounts for "initial" and "subsequent" investments under the "minimum investment" category. At first I thought that the "subsequent" requirement meant ...
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  • 143
14 votes
10 answers
3k views

Should I pay off the credit cards now or do the monthly payments thing?

I have 3 credit cards with a total balance of about $36k. Two of the cards are at 2% and the last one is at 0%. With the current payment structure, I'll be debt free in 25 months. I recently came ...
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  • 3,767
5 votes
2 answers
663 views

Calculating the most optimal way to pay off credit cards

I have 3 credit cards which I am slowly paying them off. Card# Balance Monthly Interest Months to pay of Minimum Payment at current rate Payment 1 $...
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  • 3,767
6 votes
3 answers
1k views

Is the minimum investment the same as minimum balance for a mutual fund?

If my mutual fund's minimum investment is $10K, does that mean I can sell shares after a year and fall below $10K without penalty?
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  • 1,131
11 votes
3 answers
3k views

Can a credit card minimum payment be less than the interest?

Answers given by someone else on this site indicated an assumption that minimum credit card payments were always at least the amount of interest that would be charged, meaning that the balance would ...
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  • 29.9k
8 votes
6 answers
1k views

Paying over minimum monthly charge of credit cards

I have a $80 minimum on my credit bill. If I pay them $100, do the additional $20 go to the card's Principal or Interest? If it goes to Interest, do I have to explicitly state that those $20 go to ...
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  • 181
9 votes
7 answers
926 views

Will be debt Free in 3 years -- What order should i pay off my cards?

I have budgeted to the point where i can close all credit cards i have in close to three years from now. My question is, should I simply pay 1/3 to each card (will be over minimum payment on all) OR ...
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8 votes
1 answer
1k views

Just noticed "Minimum Payment Warning" on my credit card statement. Did a law change or something?

I saw a new disclaimer on my credit card statement this month that is prominently displayed on the first page to the effect of: Minimum Payment Warning: If you make only the minimum payment each ...
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