Your minimum payment is the smallest amount your card provider requires by the due date, and it is usually calculated as a percentage of your balance plus interest and fees, or a set minimum amount, whichever is higher. Paying only this amount can make the debt take much longer to clear and cost more in interest. If you can afford it, paying the full statement balance is generally best; otherwise, pay more than the minimum where possible. Check your statement or credit agreement for your provider’s exact calculation and contact them promptly if you may miss a payment.