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The minimum monthly payment based on your balance is what you need to pay in order to stay in the credit company's good graces. The minimum payment includes a portion of the principle and interest for the month. One dollar a day might be enough if you have a low balance and a low percentage rate, but it seems like a risky way to look at it. Pay the bill as soon as you receive it.

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Q: If you pay one dollar a day can the credit card companies sue you?
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The Credit Card companies calculate the interest at the end of every business day on any outstanding balance.


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