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Understanding your payments
Each billing cycle, you’ll have a minimum payment due, which includes the Statement Fee plus the Principal Payment.
Tip: You can always pay more than the minimum payment amount to reduce your outstanding balance faster.
Let’s break it down...
Biweekly billing cycle
Meet Ashley
- She has a $1,500 revolving line of credit and is paid biweekly.
- She advances $1,000, leaving $500 available in her line.
- Ashley receives $900 (the advance amount minus the Advance Fee).
Minimum payment on $1,000 balance:
Statement Fee
$69
+
Principal Payment (2.5%)
$25
=
Minimum payment due
$94
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