New Delhi, May 2 -- In a credit card monthly statement, you will see two amounts due. One is the minimum amount due (MAD), and the second is the total amount due (TAD). While making the monthly bill payment, the bank usually gives you three payment options: MAD, TAD, and any other amount. Which out of these three should you pay? Each has its own pros and cons.

In this article, we will understand what is the minimum amount due and whether you should pay the MAD and carry forward the balance.

In a credit card bill, the minimum amount due or MAD is the smallest/least amount that you can pay to keep your account in good standing. By paying the MAD, you avoid the levy of late payment fees. Your account will not be classified as a delinquent ...