How do you calculate my minimum monthly repayment?

How do you calculate my minimum monthly repayment?

The Minimum Payment Due is (rounded up to the nearest dollar):

  1. the Card Balance if it is less than $30; or
  2. the greater of:
    • $30; or
    • 2.00% of Card Balance; or
    • the sum of: 1.00% of the Card Balance; Late Payment Fee (if any); and interest charged (excluding any interest included in amounts added back below as part of a Fixed Payment Option) for that month,

plus any Instalment, initial interest charge, Fixed Payment Option fee or related interest on any of them, that is part of a Fixed Payment Option for that month.

Daniel Thompson
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