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GLOSSARY TERMS
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Terms that begin with M

Minimum payment

When you apply for any type of revolving charge account you agree to pay a minimum payment each month.  Your creditor will send you a statement each month reflecting any new charges, credits, payments, and balances.  If you carry a balance on your card, there will be a minimum amount due each month, which will be on this statement. Each credit card issuer calculates this amount independently, but it is usually between 2-3% of your balance.


Previous Credit Card Term: Magnetic-Stripe Terminal

Next Credit Card Term: New Balance


* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Here" button, you can review the credit card terms and conditions on issuers website.