minimum payment

Definition

The smallest amount which can be paid on a revolving charge account to avoid a penalty.

Use minimum payment in a sentence

The minimum payment was too much and I decided that it was best if I just cancel the whole thing.

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With the revised laws, credit card companies are now required to put the minimum payment amount in a very large, bold font.

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The business credit card had a minimum payment due this month of three hundred dollars and our policy was to always pay at least double the minimum.

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