MINIMUM PAYMENT DUE POLICY

Minimum Payment Due Policy.

Minimum Payment Due Policy.

In order to encourage healthy personal financial management and help cardholders achieve a level of principal pay-down on the card outstanding, the calculation of Minimum Payment Due which is subject to a minimum of HK$50 has been amended as follows.

Minimum Payment Due

  1. The total of all current month's interest, annual fee, late charge, past due amount, overlimit amount, other fees and charges if any; and
  2. 1.5% of statement balance (exclude item i, where applicable)

Illustrative example

Description Amount (HK$)
Monthly Interest Rate 2%
Current Billed Interest 379.27
Billed Statement Balance 12,352.43
Original Current Minimum Payment Due
= 4% * HK$12,352.43
= HK$494.10
Revised

Remaining Balance
= HK$12,352.43 - HK$379.27
= HK$11,973.16

Current Minimum Payment Due
= HK$379.27 + 1.5% * HK$11,973.16
= HK$558.87

Notes:Notes:

The examples are for illustrative purpose only and do not necessarily represent the actual payments in any specific cases. The minimum payment due policy applies to Citibank Classic Card, Citibank Gold Card, Citi Rewards Card, Citi Cash Back American Express® Card, Citi Clear Card, Citi Prestige Card, Citi PremierMiles Card, Citi Octopus Credit Card, Citi Ultima Card.

*
According to the Code of Banking Practice, all credit providers should quote the annualized percentage rate (APR) to facilitate comparison between different charging structures. Please feel free to contact our 24-Hour CitiPhone Banking on 2860 0333 if you have any questions on the above.