What is the minimum monthly payment and how is it calculated?

A credit limit requires to make a minimum monthly payment on the outstanding balance of the credit card. The minimum payment is the smallest amount that has to be paid back each month to avoid late fees.

It is calculated based on how much you owed at the end of the previous month, in other words - your monthly statement balance.

The minimum payment will be equal to 5% of your monthly statement balance or 50PLN (whichever is higher).

Unpaid minimum monthly payment amount is charged automatically to your main pocket or/and back up card. Always making at least a minimum payment will help you avoid late fees, however, paying interest itself still applies.

If you can afford it, it’s always a good idea to pay more than the minimum payments each month, in order to clear your balance faster and reduce your overall interest payments.