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Citi-Bank Min Payment?

Discussion in 'Credit Talk' started by Bill B, Sep 28, 2001.

  1. Sep 28, 2001 #1
    Bill B

    Bill B Well-Known Member

    Does nyone know how they calculate there mn payments? Is it 2 or 3 % of balance? I will have a balance of 13,000 soon and i am trying to figure out what it would be..Hope its not more than $400
     
  3. Sep 28, 2001 #2
    tom65432

    tom65432 Well-Known Member

    My balance is $15,000. Payment is about $225 so that is 1 1/2 %.
     
  4. Sep 28, 2001 #3
    Momof3

    Momof3 Well-Known Member

    Bill any balance over 960 using the 1/48 of your balance. So your min payment will be 271.00.
     
  5. Sep 28, 2001 #4
    sam

    sam Well-Known Member

    if I remember right its 1/48 of the balance roughly..

    13K / 48 = 270.83
     
  6. Sep 28, 2001 #5
    Jeff

    Jeff Guest

    Printed in my Citi acct. info.

    Minimum Payment: $20 or 1/48 of balance when over $960 when New Balance not paid in full.
     
  7. Sep 28, 2001 #6
    Bill B

    Bill B Well-Known Member

    I thank you all for replying..So i figure the minum will be 280.00 give or take and the intrest would be about 100.00 on the 13k at 8.40% so 380.00 would be a good payment then right?
     

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