Why do credit card companies typically require small minimum payment amount on their customers monthly credit card statements?

$1$ credit card companies are concerned that their customers will be put in financial distress if required to make higher payments

$2$ credit card companies actually charge the highest minimum payment they are allowed by law

$3$ credit card companies want to increase profit by promoting slower repayment, and actually customer payments will be anchored by the smaller payment requirements

; credit card companies want to promote faster repYment