{
  "packVersion": "2026.07.0",
  "jurisdiction": "US",
  "verifiedDate": "2026-07-31",
  "status": "verified",
  "source": {
    "label": "CFPB — The Consumer Credit Card Market (December 2025), pp. 70, 76",
    "url": "https://files.consumerfinance.gov/f/documents/cfpb_consumer-credit-card-market-report_2025.pdf"
  },
  "note": "Issuer minimum-payment conventions from the CFPB's December 2025 report to Congress: most issuers set the minimum at 1 percent of the cycle-ending balance plus finance charges and fees; every reviewed issuer used a dollar floor, floors ranged $15-$50, and $40 was the most common. Your card's exact formula is in your cardholder agreement.",
  "defaultConventionId": "pct1-plus-interest-floor40",
  "conventions": [
    {
      "id": "pct1-plus-interest-floor40",
      "label": "1% of balance + interest, $40 floor",
      "pctOfBalance": 1,
      "includesInterest": true,
      "floorUsd": 40,
      "description": "The most common formula in the CFPB's 2025 review: 1 percent of the balance plus the month's finance charges, with the most common floor, $40."
    },
    {
      "id": "pct1-plus-interest-floor35",
      "label": "1% of balance + interest, $35 floor",
      "pctOfBalance": 1,
      "includesInterest": true,
      "floorUsd": 35,
      "description": "The convention used in the CFPB report's own worked example: the greater of accrued interest plus 1 percent of the balance, or $35."
    },
    {
      "id": "pct2-of-balance-floor40",
      "label": "2% of balance (interest included), $40 floor",
      "pctOfBalance": 2,
      "includesInterest": false,
      "floorUsd": 40,
      "description": "The report's example of a stipulated formula: the highest of $40 or two percent of the cycle-ending balance."
    }
  ]
}