Credit Card Minimum Payment
See the minimum payment, monthly interest and payoff timeline.
About Credit Card Minimum Payment
The minimum is a percentage of the balance with a floor, and paying only that amount is run through the monthly amortization formula to find the timeline. Paying only the minimum can stretch a card balance over a decade, so seeing the months makes the true cost vivid.
Formula
Credit Card Minimum Payment
Minimum = balance x percent (floored); payoff = amortization months at that payment
- minimum payment
- Percent of the balance, often with a dollar floor
Worked example
With the default values below, Credit Card Minimum Payment returns Minimum Due of $50.00. Change any input above and every figure here is recalculated in your browser.
Inputs used
- Balanceminimum 0
- 2,500
- APRaccepts 0–100 %
- 22 %
- Minimum paymentaccepts 0–50 %
- 2 %
Results
- Minimum Due
- $50.00
- Interest This Month
- $45.83
- Payoff Time
- 136 months
Step by step
- 1Values used
- 2Credit Card Minimum Payment
- 3Minimum Due= 50.00
- 4Interest This Month= 45.83
- 5Payoff Time= 136 months
Assumptions and limits
- The result is derived only from the 3 inputs listed above. Anything not among them is not part of the calculation.
- In particular, this calculator does not take inflation, tax, fees or charges or compounding frequency into account.
- Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
- Minimum formulas vary by issuer; this is a typical guideline estimate.
- This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.
How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.
Minimum formulas vary by issuer; this is a typical guideline estimate.
Frequently Asked Questions
How is Credit Card Minimum Payment calculated?
Minimum = balance x percent (floored); payoff = amortization months at that payment The minimum is a percentage of the balance with a floor, and paying only that amount is run through the monthly amortization formula to find the timeline.
Why does Credit Card Minimum Payment matter?
Paying only the minimum can stretch a card balance over a decade, so seeing the months makes the true cost vivid.
What values do I need to enter?
This calculator takes 3 inputs: Balance, APR, Minimum payment. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.