Credit Card Minimum Payment Calculator

Estimate a declining credit-card balance when the minimum is a percentage of balance, with or without that month’s interest added.

Method checked 2026-09-19 · Methods & sources · Examples are estimates, not current offers or quotes.

Your inputs

Example values are editable assumptions. Enter your own numbers.

Select the formula that most closely matches your card agreement or statement.

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Your estimate

Fill in the inputs and select Calculate. Results clear when you change an input so you can compare a fresh estimate.

How this calculator works

Converts the entered APR to a monthly rate by dividing by 12.

For each month, calculates interest on the opening balance, then applies the selected formula: the larger of the entered floor and either a percentage of that opening balance or that percentage plus the calculated interest.

Reduces the balance only by the amount of payment above interest. The simulation stops at payoff, when payment cannot cover interest, or after 1,200 months.

Worked example

Worked example: with a $1,000 balance, 24.00% APR, 1.00% of balance plus interest, and a $25 floor, the first modeled payment is $30.00: $20.00 interest plus $10.00 principal.

Common questions

Why does the result use an estimate?

Credit-card minimum-payment formulas vary by issuer and account. Enter the formula, percentage, and floor from your own statement or agreement.

What does “does not pay off” mean?

Under the entered monthly model, the payment is no greater than that month’s interest, so the balance does not decline. The tool stops instead of extending an unbounded schedule.