Lil Jon
Premium
join:2006-06-26
Lawrenceville, GA
|  How do you find out your Credit Card Minimum Payoff amount?
On the 11th, I made a purchase of $347.00.
I logged into my bank account, and it said to find out how much the payoff amount is, I should call a number, but the problem is I lost my Cell Phone and can't call  .
It's a VISA, and the LOC is $1,000 if that matters. |
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sapo
Computer Love
Premium
join:2002-09-16
Sacramento, CA | If you are talking about minimum payment then it should be something around $15.
If you give us the bank and APR its possible to find out the exact number. |
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McSummation
Mmmm, Zeebas Are Tastee.
Premium,MVM
join:2003-08-13
Round Rock, TX | reply to Lil Jon
If that's the only purchase you've made in this billing period, then the "payoff amount" should be $347.00. |
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sdgthy
@optonline.net | What he said, if you didn't carry over a balance and have additional interest to pay. |
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Lil Jon
Premium
join:2006-06-26
Lawrenceville, GA
| reply to sapo
said by sapo  :If you are talking about minimum payment then it should be something around $15. If you give us the bank and APR its possible to find out the exact number. It's US Bank. I'm not sure what the APR is, but it's one of those "College Credit Card", that they give to most people when they turn 18. |
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Lil Jon
Premium
join:2006-06-26
Lawrenceville, GA
| Alright, I just found the envelope they sent the card in, it says
"Regular Purchase APR 19.99% Variable
Regular Balance Transfer APR 19.99% Variable
Regular Cash Advance APR 20.99%Variable
Deliquency APR 28.99% Variable
Other Information: Prime/LIBOR is 5.00% |
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IllIlIlllIll
Elitedata
Premium
join:2003-07-06
Lindenhurst, NY | regular purchase apr 19.99% variable, thats kinda high. |
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hhuck
McCain and the Chick from Alaska
Premium
join:2001-03-03
Windsor, NY
 ·TDS
| said by IllIlIlllIll :regular purchase apr 19.99% variable, thats kinda high. He probably already knows that. But that's not what he's asking... |
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Omega
Displaced Ohioan
Premium
join:2002-07-30
Santa Maria, CA
clubs: 
 ·Comcast
·AT&T Midwest
| reply to Lil Jon
I think the min payment was recently increased, $20 or a certain higher percentage of the bill.
Either way, you should NOT be making min payments on your card. Always pay more than the min payment or you will never be out of debt and end up paying for the product many times over in interest.
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Whats smells like blue? |
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dvd536
as Mr. Pink as they come
Premium
join:2001-04-27
Phoenix, AZ
| reply to Lil Jon
if theres a revolving amount due on the card[last month it had a balance] i just look at last months interest and add two dollars to that amount and what i owe and add them together[assuming i didnt charge anything in the current billing cycle]
now if this is a 'high risk' card then that don't work because theres no grace period on these high risk cards and interest begins ticking as soon as you swipe!
--
When I gez aju zavateh na nalechoo more new yonooz tonigh molinigh - Ken Lee |
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vaxvms
ferroequine fan
Premium
join:2005-03-01
Worcester, MA
·Charter Pipeline
| reply to Lil Jon
said by Lil Jon :I logged into my bank account, and it said to find out how much the payoff amount is, I should call a number, but the problem is I lost my Cell Phone and can't call . No friends or neighbors or family will let you use their phone to call an 800 number? |
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CylonRed
Premium,MVM
join:2000-07-06
Bloom County | reply to sdgthy
said by sdgthy :
What he said, if you didn't carry over a balance and have additional interest to pay.
And thirded - pay it off every month. |
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tcope
Premium
join:2003-05-07
Sandy, UT
·Comcast
| reply to Lil Jon
Well, the first problem with this question is that "Minimum Payoff" makes no sense. I think you either mean minimum payment or payoff... not both (obviously there is no _minimum_ payoff... the payoff amount is the payoff amount.
You lost your cell phone and can't call an 800 number from anywhere?
You really need to call as the each company can have a slightly different % needed as a minimum amount. While this is regulated, it still _can_ be different.
Did I mention it's an 800 number and you can pretty much pick up any phone and call it?
As others have mentioned, and I know by your prior posts that it won't matter if I say it again, keep in mind that you will be about 60 when you pay the card off if you just make minimum payments. While I understand that you may not be able to pay the whole thing off, at least pay around $30/month. If you can't, you should have never have spent the amount you charged. |
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JeepMatt
Delaware Fios
Premium
join:2001-12-28
Wilmington, DE | Use a Pay Phone
Since it's most likely an 800 #, just go to a pay phone and call them up!
--
"ONE team - ONE city - ONE dream!!" |
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Stevert
join:2001-10-23
Algonquin, IL
·AT&T Midwest
| reply to tcope
Re: How do you find out your Credit Card Minimum Payoff amount?
said by tcope :As others have mentioned, and I know by your prior posts that it won't matter if I say it again, keep in mind that you will be about 60 when you pay the card off if you just make minimum payments. While I understand that you may not be able to pay the whole thing off, at least pay around $30/month. If you can't, you should have never have spent the amount you charged. Nope, he won't be 60 when he pays it off, if all he makes are the minimum payments. His estate (if he has one) will pay it off after he dies.
The minimum payments are purposely structured so that they just barely don't cover the interest. The CC companies want to give you a false sense of "paying off" while maximizing their income.
OP: Borrow the money from a family member you can pay off with little/no interest, and pay off the card balance in full. And (hopefully) learn something from this experience.
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tcope
Premium
join:2003-05-07
Sandy, UT
·Comcast
| said by Stevert :The minimum payments are purposely structured so that they just barely don't cover the interest. The CC companies want to give you a false sense of "paying off" while maximizing their income. Not sure where the funny stop  . But... just to mention, the gov't does regulate the minimum amount an CC company can charge each month. So a SMALL part of the minimum payment does go toward principle. But yes, it's such a small part that people should _not_ just pay the minimum. If this is done, here is the problem besides the huge interest payments... the payoff is so slow that the card user _will_ use the card again before it's paid off. So the interest payments never go away.
There is really no reason why someone cannot scrape together an extra $10 or $20 each month extra to pay toward the balance. |
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jadinolf
I love you Fred
Premium
join:2005-07-09
Ojai, CA
·DSL EXTREME
| reply to JeepMatt
Re: Use a Pay Phone
said by JeepMatt :Since it's most likely an 800 #, just go to a pay phone and call them up! Thank you. 
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This post printed on 100% recycled bytes |
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Doctor Olds
I Need A Remedy For What's Ailing Me.
Premium,VIP
join:2001-04-19
1970 442 W30
clubs:
| reply to Lil Jon
Re: How do you find out your Credit Card Minimum Payment amount?
said by Lil Jon :On the 11th, I made a purchase of $347.00. I logged into my bank account, and it said to find out how much the payoff amount is, I should call a number, but the problem is I lost my Cell Phone and can't call . It's a VISA, and the LOC is $1,000 if that matters. It's a Payment when you only pay a partial amount. It's a Payoff only when you pay the "entire" balance of $347.00 in full.
Your paper statement will show the "minimum payment due". You can check it online normally, but I see when you checked online the system told you to call (as suggested, hit a payphone or I suggest that you borrow a neighbor's phone). Most Credit Cards have a 1% to 2% minimum payment (unless you really got bad terms), but always double-check the terms that you received with your card if you can't find out online or over the phone.
1% of $347.00 = $3.47
2% of $347.00 = $6.94
Always pay more than the minimum, unless you really want to pay double for everything you buy.
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What’s the point of owning a supercar if you can’t scare yourself stupid from time to time? |
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Tsume
My little Toby.
join:2004-02-23
Winter Park, FL
 ·ViaTalk
·Cox HSI
| reply to IllIlIlllIll
Re: How do you find out your Credit Card Minimum Payoff amount?
said by IllIlIlllIll :regular purchase apr 19.99% variable, thats kinda high. You'd REALLY be shocked to see how high the APR is on all my cards.. and I have good credit. I think my lowest one is 23.99% (that's purchase, not cash advance). |
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C_
Kill The Socialists
Premium
join:2001-03-19
| reply to tcope
said by tcope :Well, the first problem with this question is that "Minimum Payoff" makes no sense. I think you either mean minimum payment or payoff... not both (obviously there is no _minimum_ payoff... the payoff amount is the payoff amount. the issue is he is trying to integrate hustle with his finances
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"and no matter how drunk you get .. don't lick the wall socket to test polarity..." |
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