minimum payment required

USAGE SUMMARY

The phrase "minimum payment required" is correct and usable in written English. You can use it in contexts related to financial obligations, such as credit card statements or loan agreements. For example: "To avoid late fees, please ensure that your minimum payment required is submitted by the due date." Alternative expressions include "required minimum payment" and "minimum payment due."

✓ Grammatically correct

News & Media

Wiki

Human-verified examples from authoritative sources

Exact Expressions

4 human-written examples

For every month you carry a balance, there's a minimum payment required.

The New York Times

Unable to cover the minimum payment required to stay in the Bronx shelter, he moved to another one in East New York, Brooklyn.

The New York Times

Make monthly payments that exceed the minimum payment required.

WikiHow

If you cannot afford to make the minimum payment required, contact American Express immediately and set up a special payment arrangement.

WikiHow

Human-verified similar examples from authoritative sources

Similar Expressions

54 human-written examples

Separately, the State Council said on Thursday that it had raised the minimum down payment required for some house purchases, in another effort to curb real estate speculation.

The New York Times

THERE really is no justifying this:Now, qualified homebuyers in the three states pioneering Affordable Advantage do not need to put down the 3.5 percent minimum down payment required by the Federal Housing Administration, or much of a down payment at all.

The Economist

The State Council raised the minimum down payment required to 50% from 40% for second-home buyers and to 30% for first-home buyers for apartments larger than 90 square meters.

Forbes

Use the amount of time specified on the loan conditions to calculate the minimum monthly payment required.

WikiHow

As of September 30 , 1997 the minimum guaranteed payments required to be made by SportsLine were $11.3 million.

Forbes

Online reservations and advance payment required.

The New York Times - Travel

Reservations and advance payment required.

The New York Times

Expert writing Tips

Best practice

When discussing credit card debt, always check your statement to know the "minimum payment required" to avoid late fees and penalties.

Common error

Don't assume that paying the "minimum payment required" will quickly reduce your debt. It primarily covers interest and fees, leaving the principal largely untouched.

Linguistic Context

The phrase "minimum payment required" functions as a noun phrase that typically modifies another noun, specifying the least amount of payment that is obligatory or necessary. Ludwig AI indicates the phrase follows standard grammar rules.

Expression frequency: Uncommon

Frequent in

News & Media

50%

Wiki

50%

Formal & Business

0%

Less common in

Science

0%

Academia

0%

Encyclopedias

0%

Ludwig's WRAP-UP

The phrase "minimum payment required" is a common and grammatically correct term used primarily in financial contexts to denote the lowest acceptable payment amount. As Ludwig AI explains, it is a standard phrase that follows typical grammatical rules. While seemingly straightforward, paying only the "minimum payment required" can lead to long-term debt accumulation, a crucial point emphasized in writing guidance. Alternatives like "required minimum payment" offer similar clarity. The phrase appears most frequently in news and media and wiki sources, suggesting a broad understanding but frequent need for clarification. Always remember to review your financial statements carefully to fully grasp the implications of this seemingly simple term.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

required minimum payment

Reorders the words while retaining the same meaning.

minimum amount payable

Specifies what is payable at a minimum.

required payment floor

Highlights the necessity and sets the minimum payment as the floor

minimum due

Uses a shorter term to express the payment obligation.

obligatory minimum payment

Emphasizes the mandatory nature of the minimum payment.

smallest payment due

Emphasizes the small size of the payment.

lowest payment necessary

Highlights the necessity of making the minimum payment.

payment floor

Uses a metaphorical term to indicate the minimum amount.

minimum debt service

Highlights the minimum needed to service a debt.

baseline payment

Indicates a basic level of payment.

FAQs

How is the "minimum payment required" calculated?

The "minimum payment required" is usually a percentage of your outstanding balance, plus any interest and fees. Check your credit card agreement for specifics.

What happens if I only pay the "minimum payment required"?

While you'll avoid late fees, paying only the "minimum payment required" means it will take significantly longer and cost more in interest to pay off your balance.

Are there alternatives to the phrase "minimum payment required"?

Yes, you can use alternatives like "required minimum payment" or "minimum due" depending on the context.

Is it better to pay more than the "minimum payment required"?

Yes, paying more than the "minimum payment required" will reduce your balance faster and save you money on interest in the long run.