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This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about Credit Cards from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers, for further details refer to our FSCG. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a Credit Card, you will deal directly with a financial institution, and not with RateCity.

Minimum Repayments

Minimum repayments are the minimum amount you are required to pay off your credit card balance. The minimum repayments are calculated as a percentage of the total balance outstanding on your credit card. This amount is usually set around 2 percent, however depending on your balance if you were to pay only the minimum amount it would take you years to pay off.

To pay off your credit cards sooner, try and pay more than the minimum repayment required or make the most of the interest free period (if applicable with your credit card) and pay the total balance off each month to save more.

If you want to save more in interest on your credit card, below is a table of some of the best balance transfer credit cards available.
See all Credit Card Articles
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About Credit Cards Articles

RateCity provides credit card news and features, including a range of weekly stories and economic updates. By checking our credit card news and features daily, you can ensure that you receive up to date, expert commentary on current financial and economic issues. Before you search, compare or apply for the best credit card for you, help yourself understand the market by reading mortgage news and features at RateCity.

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