Business / Money
Credit Card Minimum Payment Calculator
Compare minimum-only card payments with a fixed monthly payment using an editable percentage rule and payment floor.
Credit Card Minimum Payment Calculator: See how a falling minimum payment affects the months and interest needed to clear a credit card. Choose a percentage of the opening balance plus interest, or a percentage of the statement balance including interest, with a cash floor. Runs 100% locally in your browser with zero server file uploads.
- Category
- Business & admin tools
- Runs
- In your browser
- Cost
- Free · no sign-up
- Availability
- Ready to use
Runs entirely in your browser
Each minimum is the larger of the chosen percentage rule and the floor, capped at the amount owed. Try 1% plus interest, or 2–3% of the statement balance. Interest is APR / 12 each month. No new spending or fees are included; use your card agreement for its actual rule.
- First minimum payment ($)
- 150.00
- Interest saved with fixed payment ($)
- 6,886.39
| Plan | Months | Interest ($) | Total paid ($) |
|---|---|---|---|
| Minimum only | 234 | 8,886.95 | 13,886.95 |
| Fixed payment | 36 | 2,000.56 | 7,000.56 |
The CARD Act added minimum-payment disclosures. Subject to exceptions, credit card statements show a minimum-payment warning, estimated payoff time and total cost, and a three-year repayment comparison. This estimate is not an issuer's statutory disclosure. CFPB: minimum-payment disclosure requirements
Minimum-payment disclosure
The CARD Act introduced minimum-payment disclosures. CFPB Regulation Z, section 1026.7(b)(12): https://www.consumerfinance.gov/rules-policy/regulations/1026/7/#b-12 sets out the warning, minimum-only repayment estimates and, subject to exceptions, a three-year repayment comparison.
This calculator illustrates repayment behaviour. It is not an issuer’s statutory disclosure and does not reproduce all regulatory calculation assumptions.
Payment formula
Interest is opening balance × APR / 1200. The percentage-plus-interest option applies the percentage to the opening balance, then adds interest. The percentage-only option applies the percentage to the statement balance after interest.
Each payment is at least the floor and at most the amount owed. The fixed-payment comparison uses the same APR and caps the last payment. Both plans assume no new spending or fees.
How to use it
- Enter the balance and APR.
- Choose the minimum-payment formula, percentage and floor.
- Enter a fixed payment and compare payoff time and interest.
Privacy & limitations
All calculations run in your browser. No financial inputs are uploaded.
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Frequently asked questions
Which minimum-payment rule should I use?
Use the rule in your card agreement. The examples are 1% of the opening balance plus interest, or 2–3% of the statement balance including interest. The larger of the rule and the floor is paid, capped at the amount owed.
Will this match the warning on my statement?
Not necessarily. Your issuer may use different billing dates, rounding, fees, rates or payment rules. This is a simplified monthly estimate.
What does not paid off mean?
The payment does not reduce principal, or the simulation has not finished within 1,200 months. A truncated schedule is not presented as a completed payoff.
Free tool · runs in your browser · no account required