Minimum Payment
For Residents Outside of Québec:
Your required Minimum Payment is the sum of Interest + Fees + $10, in addition to any over-limit or past due amounts. If your outstanding New Balance is less than $10, the Minimum Payment will be the balance.
For Québec Residents Only:
For Accounts opened on or after August 1, 2019: Your required Minimum Payment is the greater of 5.00% of the outstanding New Balance on your statement or $10.
For Accounts opened prior to August 1, 2019: Your required Minimum Payment is the greater of:
A. 3.00% of the outstanding New Balance on your statement (effective as of August 1, 2021)
"3.00%" will increase by increments of 0.50% of the outstanding New Balance shown on your statement in each 12 month period* from August 1, 2022, until it reaches 5.00% as shown below:
- 3.00% to 3.50% (effective August 1, 2022)
- 3.50% to 4.00% (effective August 1, 2023)
- 4.00% to 4.50% (effective August 1, 2024)
- 4.50% to 5.00% (effective August 1, 2025)
Or
B. $10
In addition, in all cases your Minimum Payment will include any over-limit or past due amounts. If your outstanding New Balance is less than $10, the Minimum Payment will equal the balance.
