You can always pay the minimum payment on a credit card. As long as you pay off the minimum payment, your personal credit will not be affected. However, the minimum repayment amount can only be used as an emergency and emergency measure and should not become a habit of credit card repayment. This is because the minimum repayment amount does not enjoy the interest-free policy, and the monthly compound interest calculation model is adopted, so the cost of using the card is higher.

Extended information:

Failure to pay off the minimum payment is equivalent to an overdue credit card, and the consequences are as follows:

1. You need to pay a higher rate and late fees.

If the cardholder fails to repay in full and fails to make installments, liquidated damages will be incurred, and most banks will calculate the amount as 5% of the unpaid portion of the minimum repayment amount. At the same time, all consumption in the current period will be charged interest one by one starting from the accounting date, with a daily interest rate of 0.5%, which is equivalent to an annual interest rate of 18%.

2. Producing a bad credit record

Once a credit card is overdue, even if the balance is paid off in full, within 5 years from the date of repayment, the cardholder will still owe money that has not yet been repaid. Bad behavior and bad information will also be exposed in the personal credit report of the Credit Information Center of the People's Bank of China.

Reference materials:

People's Daily Online - Choosing the minimum repayment on a credit card will still accrue interest

Ifeng.com - The dangers of overdue credit cards