Minimum amount due or minimum payment

Minimum amount due or minimum payment required refers to the minimum amount that a cardholder is required to pay on or before the payment due date for a particular billing cycle/billing period which may include: (1) Outstanding balance multiplied by the required payment percentage or a fixed amount, whichever is higher; (2) Any amount which is part of any fixed monthly installment that is charged to the card; (3) Any amount in excess of the credit line; and (4) All past due amounts, if any. (Sec. 5(o), R.A. No. 10870)