Credit Cards are the cards issued by Financial Instituitions to the individuals giving them option of a mean of short term financing at the point of sales. These institutions charge interest rates which are generally higher than other consumer loans. Credit Cards are one of the most popular method of retail payments in US because of its wide spread acceptance.
Assuming, that bank will charge no other fees and on the basis of 2% minimum payment regulation, amount to be paid on $5270 will be:
Minimum Amount Due: $5270*2%= $105.40
I have an American Express Credit Card that ...