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The minimum monthly payment is typically based on a percentage from your balance.
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Liliana Hall is a CNET Money editor covering banking, credit cards and mortgages. Previously, I wrote about personal credit for CreditCards.com and Bankrate.com. She is passionately committed to providing financial literacy content. She graduated from the University of Texas at Austin and has a Bachelor of Arts in Journalism. She has also worked in the newsrooms of KUT and the Austin Chronicle. She can be found reading, paddling, or hopping on a plane when she isn’t working.
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