You can only pay the minimum payment on your credit card, but this is not a wise approach. The following is a detailed explanation of this issue:

1. The minimum repayment amount refers to the minimum amount that the cardholder needs to repay every month according to the regulations of the credit card issuer. This amount is usually a small percentage of the total credit card bill, usually a certain percentage of the bill amount, such as 5% or 10%.

2. The existence of the minimum repayment amount is, on the one hand, for the convenience of cardholders so that they can repay part of their debts in time to avoid overdue payments; on the other hand, it is also a source of income for credit card issuers. , because outstanding debts will incur high interest charges.

3. Choosing to pay only the minimum repayment amount will lead to the following problems:

- High interest charges: The outstanding balance of the credit card will calculate interest at a high interest rate. If only If you pay the minimum payment, the remaining balance will continue to accrue interest charges, which will result in more interest payments in the long run.

- Impaired credit history: Continuing to make only the minimum repayments may be considered bad credit behavior, which will have a negative impact on an individual's credit history and affect future borrowing capacity and interest rates.

- Long-term accumulation of debt: Paying only the minimum payment amount will cause credit card debt to accumulate for a long time, making it difficult to get rid of the debt problem.

In summary, although you can only pay the minimum repayment amount, this is not a wise choice. To avoid high interest charges and damage to your credit history, it is recommended to try to pay off the entire balance you owe, or at least pay off more than the minimum payment.

Extended information: The minimum repayment amount of a credit card is generally about 10% of the bill amount, and the specific proportion is determined by the issuer. Cardholders have one month from the bill date to repay the minimum payment, but it is recommended to repay in full as early as possible to avoid accumulation of interest charges. Continuous overdue payments may result in credit card freezes, collection actions, or legal disputes. Therefore, it is a wise way to manage your finances by planning your finances reasonably and paying off all credit card debts on time.

The above are the answers and explanations to the problem of only paying the minimum payment on an overdue credit card. I hope it will be helpful to you. If you have further questions, please feel free to ask.