Minimum payment

The smallest amount you can pay on a credit card or loan by the due date to stay in good standing.

On a credit card, the minimum is often a small percentage of the balance plus that month's interest, or a small flat amount, whichever is higher.

Paying only the minimum keeps the account current, but most of it can go to interest, so a balance can take years to pay off. Your statement shows how long payoff would take at the minimum. Paying more than the minimum, even a little, shortens that a lot.