FAQs
WHAT IS THE DIFFERENCE BETWEEN MINIMUM AMOUNT, OUTSTANDING BALANCE, AND STATEMENT BALANCE?
Minimum Amount Due is the minimum amount you are required to pay, on or before the payment due date, to maintain your card account in good standing and to avoid late payment fee. Remember, you will still be charged interest on the remaining unpaid amount, just that late fee will not be applied.
Outstanding Balance Amount is the amount you owe on purchases made with your credit card. This is the outstanding amount for repayment, but a portion of it is the minimum repayment amount that must be settled, else there is a late payment charge that will be levied.
Statement Balance Amount is the amount shown on your bill that reflects the total amount that you owe on the credit card up to the end of your most recent billing cycle. This is the balance that you need to pay prior to the due date so that no interest is applied.
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