<prompt> Human: I recently was accepted for a new credit card through my credit union. Over the last few years I have been slowly repairing and building my credit. It has really improved. Now in my second phase to make my status excellent. I figured getting a card through my credit union would be the best bet because of their low interest rates. Ive tried researching for the right answer and even used calculators to figure out what my minimum will be but the language has me stumped.It starts off typical: 2 of your outstanding balance New Balance or 50.00 whichever is greater. If your outstanding balance is 50.00 or less you agree to pay your balance in full. Your total minimum payment due each month is the minimum monthly payment... Now maybe Im over thinking this and a few of the calculations certainly made my confusion worse. I read this pretty clear though. This sounds to me like if I have an outstanding balance of any amount above 50.00 I can pay it in instalments using the 2 of the outstanding balance method but that my monthly payment wouldnt ever go below 50.00. It can go higher but only when the 2 of the total outstanding balance calculates to be greater than the default minimum of 50. The part confusing me is: whichever is greater. Is this referring to: greater than the minimum monthly payment of 50.00? Or is the language stating that the formula they use to determine a monthly minimum payment changes once the outstanding balance is greater than the threshold of that which is the default formula? So if that should happen; a new minimum is then determined by whatever the sum of 2 of the outstanding total is. If that is the case, then the minimum would drop to a much lower monthly minimum. I hope that makes sense because my brain is now soup. Augh!Am I my understanding correct? If my first assumption is correct, that sounds untypically steep. I can pay 50 a month but it defeats my purpose of what I plan on doing with the card. I want to use the card for my business expenses until I get my profit and loss spreadsheet done and then Ill apply for a business credit card. My plan is to charge some expenses as a way to invest in small but necessary purchases approximately 300 to 600. I purposely want to make small payments while still paying 15 to 20 over the minimum. As I get close to paying the debt off, pay the remaining off with a full payment. Afterwards, I would do it all over again. I dont want to make any more than 10 installments and ideally I want my target to be around 6. I realizing this hits close to 50.00 but I would have a lot more control over my target if the minimum were even 25 or better if it were the typical 15. In my business I have on seasons and off seasons. I can make improvements to slowly build the growth of my business during the off season, and then use the busy season to pay down my debt, which responsibly funds the growth and development, while building both my personal credit and eventually my business credit. If my base is 50, then to accomplish my goals, I would have to pay 85.00 to a 100. I might as well have a charge card then, if thats the case.  <response>: You should always pay it off in full anyway so the minimum payment or interest rate should never even matter to you. That being said its obvious from the wording that you need to pay at least 50mo unless your balance is below 50 in which case you have to pay it in full. The only time the 2 rule would come into play is once your balance is above 2500. If your balance is 2,600 youd need to pay at least 52 since 2 of 2,600 is more than 50. 