About the Credit Card Minimum Payment Calculator
Paying only the minimum on a credit card keeps you in debt for years and costs far more than the amount you borrowed. This calculator shows how much. Enter the balance and the card's yearly interest rate, and the rule that sets the minimum: a percentage of the balance, a lowest amount, and whether the month's interest is added. It simulates the payments month by month until the balance is zero. Type the balance, the interest rate and the minimum payment rule and the minimum payments appears at once, with a few related figures underneath, and you can copy the result with one tap. The sums run in your browser, so nothing you enter is uploaded.
Updated October 2026
How to use the Credit Card Minimum Payment Calculator
- 1Enter the balance, the interest rate and the minimum payment rule.
- 2Pick the units or options from the menus if the minimum payments tool offers them.
- 3Read the minimum payments in the large result box.
- 4Look at the extra rows for related figures.
- 5Press Copy result to keep the answer.
When you need the minimum payments
Anyone with a card balance can use it to see the real cost of the minimum. Money advisers use it to show why paying more than the minimum matters, and borrowers use it to decide how much extra to pay each month.
The shape of the rule matters. A minimum of a percentage of the balance shrinks as you pay, so payments get smaller and the debt lingers. A minimum that includes interest falls more slowly and clears the debt sooner.
How the minimum payments is worked out
Each month: interest = balance × APR ÷ 12. Payment = the larger of the lowest amount and the percentage of the balance (plus interest if chosen). New balance = balance + interest − payment. A balance of 5,000 at 18 percent with a minimum of 2 percent of the balance, or at least 25, starts with a payment of 100. It takes 370 payments, over 30 years, and 12,328 in interest, more than twice the original debt. If the minimum also includes the month's interest, the card clears in 134 months with 3,440 interest.
Every answer on this page comes from that one rule, so you can check any result by hand with a calculator. The figures shown underneath, such as other units, are conversions of the same answer.
- Adjustable minimum rule
- Months, years and interest
- Warns if the balance never falls
Mistakes to avoid with minimum payments
Card rules differ between issuers and countries, so check your own agreement. The tool assumes a fixed rate, no new purchases and no fees. If the minimum is lower than the interest charged, the balance never falls, and the tool tells you.
On phone and computer
On a phone, type into the boxes one after another and read the minimum payments underneath; Copy result puts it on the clipboard for a message or a note. On a computer the inputs sit on the left and the answer on the right, so you can change one figure and watch the minimum payments move. The credit card minimum payment calculator works the same on both. See how fast you could be debt-free with Credit Card Payoff Calculator and Debt Payoff Calculator, check the cost of interest with Credit Card Interest Calculator, and learn the real rate with APR Calculator.
Features
- Pay more than the minimum
- Stop adding purchases
- Check your issuer's rule
- Clear messages when the minimum payments inputs make no sense
- Copy the result with one tap
- Private: nothing is uploaded
Frequently asked questions
How do I calculate minimum payments?
Each month: interest = balance × APR ÷ 12. Payment = the larger of the lowest amount and the percentage of the balance (plus interest if chosen). New balance = balance + interest − payment. A balance of 5,000 at 18 percent with a minimum of 2 percent of the balance, or at least 25, starts with a payment of 100. It takes 370 payments, over 30 years, and 12,328 in interest, more than twice the original debt. If the minimum also includes the month's interest, the card clears in 134 months with 3,440 interest.
What is the formula for minimum payments?
Each month: interest = balance × APR ÷ 12. Payment = the larger of the lowest amount and the percentage of the balance (plus interest if chosen). New balance = balance + interest − payment. The credit card minimum payment calculator applies it exactly and rounds only the displayed answer to six significant figures.
Why does it take so long?
Because most of each small payment goes to interest, leaving little to reduce the balance.
What is a better strategy?
Pay a fixed amount that is higher than the minimum, ideally more than the interest plus a share of the balance.
Does the tool include new purchases?
No. It assumes you stop using the card.
Is this credit card minimum payment calculator free and private?
Yes. It is free, needs no account and runs in your browser, so the numbers you type are not uploaded or stored.