Even if you are not able to pay your total amount due, it is always safe to make your minimum due payments. But if you default to pay even the minimum amount due, then you would be facing trouble in the form of late payment charges. ICICI Bank charges 30% of the minimum due amount, subject to a minimum of Rs. 300 and a maximum of Rs. 600. Late payment charges will be imposed if the minimum amount due is not paid by the payment due date. You may choose to pay only the minimum amount due printed in the statement. The balance outstanding amount can be carried forward to subsequent statements.

If you fail to pay the minimum amount due by the date indicated in the billing statement, it shall be treated as default. In case of default,the bank can forward your default report to the Credit Information Bureaus. If this gets to the credit bureaus, your credit score might go down drastically and this will become a black mark in your credit history. When you are looking to take loans or any other credit, your credit history will be reviewed. And when they see that you have defaulted on your credit card bill payments, you are more likely to get denied for the credit you are seeking for. So, it’s always better to pay the total amount due to avoid such risks.