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I'm using an ICICI bank credit card, and there are two amounts of importance that are visible on the online dashboard: Current Outstanding, and Minimum amount due. I did a transaction of Rs. 1500 on a trial plan and got it refunded in 14 days by cancelling the trial. Hence, my current outstanding is 0.

However my minimum amount due is still Rs. 100 for some reason. Today is the deadline for my credit card bill payment, so should I pay the minimum amount due or not?

If yes, I ask why, as the current outstanding is just 0?

SacredMechanic
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2 Answers2

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I've been in this exact situation before with 2 different banks. With one of them, the minimum payment updated to say $0 due, which is what you'd expect. With the other, the minimum payment was on auto-pay and it still went through which created a short-lived credit. Since it was a card I regularly used I didn't care, as the credit was used up within days.

I would contact your bank's customer service number (or use the live chat feature if they have it on their website) and simply ask them if you still need to pay. If you can't get a hold of them, and if you intend to use the card more in the near future, I'd probably just pay it regardless, since it doesn't hurt you to do so.

Most likely you don't have to pay it, but I wouldn't bother risking it unless the amount of the minimum payment is hard for you to come up with, or you don't think you'll be using the credit card again anytime soon.

TTT
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You can always pay it now to avoid the possibility of a late fee (even though you shouldn't actually even owe at the moment) and then contact customer service to follow up.

At worst, they'll post your payment and you'll have an unused credit of what you paid. As best they'll offer to refund the money.

The important point is, you don't want to jeopardize your credit standing with the bank, so it's best to pay it to make sure YOU don't have a consequence that may not be as easy to fix as you think it should. Paying it now gives you the luxury of time to sort things out without running the chance of a negative hit on your credit.

RiverNet
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