HDFC Bank gives a choice to cardholders which enables them to pay only the minimum amount due printed on the statement. The balance outstanding amount will be carried forward to the following statements. Cardmembers can also pay the total amount due or can pay off more than the minimum due that they are supposed to pay. Any such payment should be done before the payment due date.

The unpaid minimum amount due of the previous statements will be added to the cardholder’s current minimum amount due including the outstanding exceeding the cardholders credit limit. The minimum amount due to be paid is generally 5% of the total amount due.

Paying only minimum dues can become a big disadvantage:

1. Interest rates that you would have to pay will soar

2. It could make your credit history look bad and thus your credit score will plummet

3. In addition to your dues you would have to pay the late payment charges if you somehow fail to pay your minimum dues regularly

4. You will not be able to enjoy interest free credit periods

When it comes to a credit card, people might be lethargic in their ways of spending, thinking that they can pay all their dues later and might postpone doing so. But as you keep postponing paying your dues, the more load in the form of interests will be burdened upon you. So, it’s good if you at least pay your minimum dues to avoid hassle. But it’s better to pay your credit card balance in full as this will make sure you don’t get into a credit card debt.