Most credit card issuers in Canada use the 3% rule when calculating your minimum monthly payment. That means they charge 3% of your outstanding balance as your minimum payment amount. If you carry a balance of $1,000, then your minimum payment would be $30. However, the percentage used can vary among credit card issuers and provinces. If you are a resident of Quebec, expect to pay at least 3.5% of your outstanding balance as your minimum monthly payment in 2022. To find out how your credit card issuer calculates your minimum monthly payment amount, refer to your credit card agreement disclosure, monthly statement, or by calling your credit card issuer.