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Because my first purchase was $48.00? I guess I am used to see a minimum payment amount on my other credit card and was surprised that I didn't see any amount for the Macy's credit card. I don't think I would have to pay the balance in full if I purchased something for $300 right?
If your statement period has closed as Math asks, $48 seems high but look at your credit terms. My credit union does not do minimum payments under $30. So if balance is $28 it would be due in full. If I owed $31 the minimum payment would be like $6. However they come up with that.
There is a toll free number on your bill. Call them and ask them.
I occassionally buy from Macy's but I put the purchase on my visa card (and always over $50 in order to get the free shipping) so I don't know how their card works.
There is a toll free number on your bill. Call them and ask them.
I occassionally buy from Macy's but I put the purchase on my visa card (and always over $50 in order to get the free shipping) so I don't know how their card works.
Tried that yesterday and the woman who answered the phone sounded like a fool so I just ended the call.
Tried that yesterday and the woman who answered the phone sounded like a fool so I just ended the call.
Try again.
You might get a different answer.
Or they may not know.
Seems to me a minimum of $50 isn't unreasonable, and your $48 is less than that.
Call again and ask what the minimum payment would be on a $300 purchase.
But if you are only concerned with paying the minimum due, instead of paying off the balance in full, you are in trouble already and not really using the card.
Making minimum payments only will get you into trouble FAST, as that will allow you to charge a lot " if I only have to pay the minimum due ". THAT is how people get mired deeply into c.c debt!!!
So get in the habit of only charging what you can afford to pay off in full each month. And pay the bill in the outgoing mail the next day so it gets there in time for the due date easily.
Other wise, you are asking for trouble.
Use the card wisely, and you will benefit, use it haphazardly and you will suffer. Ask me how I once learned this lesson.
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