There are many types of repayments in credit cards. If the cardholder does not want to overdue but does not have the money to repay, he can apply for the minimum repayment, which can preserve his credit, and this repayment model is not There is overdue repayment, but someone was rejected when applying for the minimum repayment. What is going on?

Why can’t I pay the minimum payment on my credit card?

The credit card cannot make the minimum payment, which means that the bank does not agree with the cardholder's application for the minimum payment, and the balance must be paid off in full. The most common reason for this situation is: the credit card is overdue. Once a credit card is overdue, most banks will not allow the cardholder to apply for minimum repayment and want the cardholder to pay off the entire balance at once.

There is usually no need to apply for the minimum repayment of a credit card, and you only need to repay the minimum repayment amount directly. After receiving the repayment, the bank will automatically identify the cardholder's repayment amount and conduct qualitative analysis. Once the minimum payment is reached, interest will begin to accrue from that date. The minimum repayment amount is 10% of the current payment amount, and the current payment amount is 10% of the latest payment period.

After using the minimum repayment, the remaining balance must be paid off in one lump sum before the next repayment date.