##Question_Title## minimum payment?

Question

What does it mean if my statement says i have a minimum pay of $0 due. I currently have 12 months no interest minimum payments. Thanks

Answer 1

It may mean you are not required to make a payment.  Don't chance it.  Call the company and ask--or just make a payment anyway if you are unsure.

Answer 2

If you owe on the card (have a balance), they are offering you to pay it down with zero interest until the 12 months are up.  Depending on your contract you may have to pay off balance prior to 12 months to not be charged financing back to the date of purchase.  Other alternative is they start applying interest after the 12 months are up.  If you have a balance and they are request zero now, it is in their benefit, as they will make more from you with interest.  Best to pay it off prior to any interest being tacked on.

Answer 3

its means u dont have to pay anything for that month...but i would still pay something

Answer 4

You don't have to pay anything now.  But you'll pay a lot of interest if you don't pay off the total balance in full before the 12 months are up.  To be safe, I'd try to pay 10% of the total balance each month.