Credit Card Minimum Payment Calculator
Estimate how long minimum payments may keep you in debt and see how payment changes could reduce the interest you pay.
- 2026 figures, checked October 26, 2026
- 1 official source
- Private: runs in your browser
- How we check our work
Result
…
Verify before you act: review these results with a licensed loan officer or a nonprofit credit counselor before making any decision based on them.
Suggestions for your numbers
Updated as you type, from your inputs only. General information, not personal advice; confirm any change with a qualified professional.
See it over time
Hover over or tap the chart to see the numbers for any point.
What is a credit card minimum payment?
A credit card minimum payment is the smallest amount your card issuer requires you to pay by the due date. A credit card minimum payment calculator estimates how long it could take to clear your balance if you keep paying only that amount.
The calculation uses your balance, APR, minimum payment percentage, and minimum payment floor. Depending on how your card calculates its minimum, the payment may include interest as well as a percentage of the balance. Your card agreement explains the method your issuer uses.
Why minimum payments matter
Paying the minimum can keep your account current, but it may leave a balance that accrues interest for a long time. When your balance is high, much of a minimum payment can go toward interest rather than reducing what you owe. The CFPB’s information on credit card interest can help you understand how interest affects your balance.
Seeing the estimated payoff time and total interest can help you decide whether to pay more, use savings to reduce the balance, or adjust other spending. If you are planning a purchase or weighing a loan, compare the payment with your available cash flow before committing. A calculator gives an estimate, not a promise from your card issuer.
How to use this credit card minimum payment calculator
- Enter your current card balance. Use the amount you owe now, rather than your credit limit.
- Enter the APR shown on your card statement or agreement. If your card has different rates for different balances, this calculator may not reflect each rate separately.
- Enter the minimum payment percentage and payment floor shown in your card terms. The floor is the minimum dollar amount the issuer may require when a percentage-based payment would be lower.
- Set the option for whether interest is added to the percentage-based minimum, if your calculator provides that choice. Check your card agreement if you are unsure which method applies.
- Review the estimated first minimum payment, months to pay off, and total interest. Then try a higher monthly payment to compare the effect. Keep making at least the required payment by its due date.
Minimum payment calculator example
Worked example
With a card balance of $5,000, an APR of 23.9%, a minimum payment of 1% of the balance, interest included in the minimum, and a $35 floor, the calculator estimates that paying only the minimum takes 16 yrs 9 mo. The first minimum payment is $149.58, the estimated payoff period is 201 months, and total interest is $8,403. These are the supplied example results; your issuer’s method and account activity can change your actual outcome.
How to read your calculator results
The payoff time estimates how long the balance may take to reach zero if you make the modeled minimum payments and do not add new charges. The total interest estimates the cost of carrying the balance over that period under the calculator’s assumptions.
The first minimum payment is a starting point, not necessarily the same amount every month. If the payment is based on a percentage of the balance, it can shrink as the balance falls. A payment floor may keep it from falling below the stated minimum. Check the calculator’s assumptions and compare them with your card terms before using the estimate to make a repayment plan.
How to pay off your balance faster
- 01
Pay more than the minimum
Choose a payment above the required minimum that fits your budget, and keep it steady when you can. Enter that amount in the calculator to see how the estimated payoff time and interest change.
- 02
Direct extra cash to the balance
Consider using a tax refund, work bonus, or money freed up by cutting a recurring expense to make an extra payment. Keep enough cash for essential bills so the extra payment does not lead to new borrowing.
- 03
Pause new charges on the card
If you keep adding purchases, your payments have more balance to cover. Consider using a debit card or cash for new spending while you work on the existing balance.
- 04
Ask the issuer about your options
Contact your card issuer to ask whether it offers a lower rate or a payment plan. Review any fees, timing, and account terms before agreeing.
Common credit card minimum payment mistakes
Treating the estimate as a fixed schedule
Your actual minimum can change with the balance and your card’s terms. New purchases, fees, rate changes, or missed payments can also affect what you owe and how long repayment takes.
Using the wrong APR or payment method
A rate or minimum-payment rule that does not match your statement can make the estimate misleading. Check your card agreement, especially if different balances have different rates.
Assuming the minimum is a payoff plan
The minimum is the required payment under your card terms, not necessarily a payment amount that fits your preferred timeline. Compare it with a higher payment you can sustain.
The minimum payment formula
Each month's minimum = the larger of the floor or a percentage of the balance (plus interest, if your card works that way).
Key terms
- APR
- Annual percentage rate. It is the yearly rate used to express the cost of borrowing on your card.
- Minimum payment percentage
- The percentage of your balance used to help calculate the required minimum payment, subject to your card’s terms.
- Minimum payment floor
- The stated dollar minimum that can apply when the percentage-based calculation is lower.
- Total interest
- The estimated interest charged over the modeled payoff period.
Minimum payment questions
Why do minimum payments take so long?
Because most of each minimum payment goes to interest while the balance is high.
Does this calculator include new purchases or fees?
The estimate is based on the inputs and assumptions shown by the calculator. Unless it asks for new purchases or fees, do not assume they are included. They can change your balance and payoff time.
Will my actual payoff time match the estimate?
Not necessarily. Your issuer’s minimum-payment formula, APR, new charges, fees, and payment timing can affect the result. Use your statement and card agreement to check the assumptions.
Should I pay more than the minimum?
Paying more can reduce the balance faster and lower the interest estimate, but choose an amount that fits your budget and required expenses. You can compare payment amounts in the calculator.
Sources
Before you act on this result. Cordwell calculators and guides are educational estimates, not legal, tax, investment, lending or other professional advice. They rely on the numbers you enter and on simplified rules, and they can't see your full situation. Before you file, sign, borrow, invest, hire, change your withholding or form a business based on anything here, meet with a licensed loan officer or a nonprofit credit counselor who can review your specific facts and confirm the numbers. Rules change, and official agency guidance always controls.